Zacks Investment Research upgraded shares of GreenSky (NASDAQ:GSKY) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $13.00 target price on the stock.
According to Zacks, “GreenSky Inc. operates as a technology company. It offers proprietary technology infrastructure platform to supports the full transaction lifecycle, including credit application, underwriting and real-time allocation. The company’s proprietary technology powered platform enables merchants to offer frictionless promotional payment options to consumers, driving increased sales volume and accelerated cash flow. GreenSky Inc. is headquartered in Atlanta, Georgia. “
A number of other equities analysts have also commented on GSKY. Guggenheim lowered shares of GreenSky from a buy rating to a neutral rating and raised their price objective for the stock from $13.75 to $13.76 in a research note on Wednesday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of LYFT from $82.00 to $86.00 in a research report on Wednesday, May 8th. Citigroup cut their target price on shares of UnitedHealth Group from $288.00 to $247.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Finally, SunTrust Banks increased their target price on Constellation Brands from $180.00 to $190.00 and gave the company a hold rating in a report on Monday, July 1st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. GreenSky presently has a consensus rating of Buy and a consensus price target of $16.44.
GreenSky (NASDAQ:GSKY) last announced its earnings results on Tuesday, May 7th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.03 by $0.08. The company had revenue of $103.70 million during the quarter, compared to analysts’ expectations of $103.46 million. GreenSky had a net margin of 6.27% and a negative return on equity of 120.94%. The firm’s revenue was up 21.6% on a year-over-year basis. As a group, analysts anticipate that GreenSky will post 0.75 earnings per share for the current year.
In related news, Director Gregg Steven Freishtat sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $16.06, for a total transaction of $48,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 54.81% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Shapiro Capital Management LLC purchased a new stake in shares of GreenSky during the fourth quarter worth $74,166,000. Norges Bank purchased a new position in GreenSky in the fourth quarter valued at about $25,874,000. UBS Oconnor LLC grew its stake in GreenSky by 385.1% in the fourth quarter. UBS Oconnor LLC now owns 2,590,400 shares of the company’s stock valued at $24,790,000 after purchasing an additional 2,056,400 shares in the last quarter. Marshall Wace LLP grew its stake in GreenSky by 155.2% in the first quarter. Marshall Wace LLP now owns 1,088,923 shares of the company’s stock valued at $14,091,000 after purchasing an additional 662,260 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in GreenSky in the 4th quarter worth about $3,828,000. 32.41% of the stock is currently owned by institutional investors and hedge funds.
GreenSky Company Profile
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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