Goldman Sachs Group Lowers GreenSky (GSKY) to Neutral

Goldman Sachs Group downgraded shares of GreenSky (NASDAQ:GSKY) from a buy rating to a neutral rating in a research note released on Wednesday morning, MarketBeat reports. They currently have $11.00 target price on the stock, down from their previous target price of $31.00.

Other equities research analysts have also recently issued research reports about the company. Compass Point upgraded GreenSky from a neutral rating to a buy rating and set a $27.00 price objective for the company in a report on Thursday, August 16th. They noted that the move was a valuation call. Cowen upgraded GreenSky from a neutral rating to a buy rating in a report on Thursday, August 16th. Sandler O’Neill restated a hold rating and set a $20.00 price objective on shares of GreenSky in a report on Wednesday, August 8th. BTIG Research began coverage on GreenSky in a report on Thursday, October 11th. They set a buy rating and a $23.00 price objective for the company. Finally, Credit Suisse Group reduced their price objective on GreenSky from $29.00 to $28.00 and set an outperform rating for the company in a report on Wednesday, August 8th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. GreenSky currently has an average rating of Buy and a consensus price target of $20.62.

NASDAQ GSKY traded up $0.30 during trading on Wednesday, reaching $9.71. 4,047,801 shares of the company’s stock were exchanged, compared to its average volume of 3,319,509. GreenSky has a fifty-two week low of $8.55 and a fifty-two week high of $27.01.

GreenSky (NASDAQ:GSKY) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $113.91 million for the quarter, compared to the consensus estimate of $121.28 million. The business’s revenue was up 29.0% compared to the same quarter last year. On average, analysts anticipate that GreenSky will post 0.59 earnings per share for the current fiscal year.

In related news, insider Dennis I. Kelly purchased 27,000 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was acquired at an average cost of $9.06 per share, for a total transaction of $244,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSKY. Waddell & Reed Financial Inc. bought a new stake in GreenSky during the second quarter worth $40,116,000. Federated Investors Inc. PA bought a new stake in GreenSky during the second quarter worth $34,363,000. Millennium Management LLC bought a new stake in GreenSky during the second quarter worth $27,892,000. BlackRock Inc. bought a new stake in GreenSky during the second quarter worth $27,650,000. Finally, TPG Group Holdings SBS Advisors Inc. bought a new stake in GreenSky during the second quarter worth $26,606,000. Hedge funds and other institutional investors own 31.30% of the company’s stock.

About GreenSky

GreenSky, Inc, a technology company, provides point-of-sale financing and payment solutions to merchants, consumers, and banks. It offers a proprietary technology infrastructure that support the full transaction lifecycle, including credit application, underwriting, real-time allocation to bank partners, document distribution, funding, settlement, and servicing functions.

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Analyst Recommendations for GreenSky (NASDAQ:GSKY)

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