GreenSky (NASDAQ:GSKY) Stock Rating Upgraded by Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of GreenSky (NASDAQ:GSKY) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. The brokerage 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 brokerages have also commented on GSKY. Citigroup decreased their price target on shares of UnitedHealth Group from $288.00 to $247.00 and set a neutral rating on the stock in a report on Wednesday, April 17th. JPMorgan Chase & Co. increased their price target on shares of LYFT from $82.00 to $86.00 in a report on Wednesday, May 8th. Guggenheim lowered shares of GreenSky from a buy rating to a neutral rating and increased their price target for the stock from $13.75 to $13.76 in a report on Wednesday, May 8th. Finally, SunTrust Banks increased their price target on shares of Constellation Brands from $180.00 to $190.00 and gave the stock a hold rating in a report on Monday, July 1st. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $16.44.

Shares of NASDAQ:GSKY traded up $0.19 during trading on Wednesday, reaching $11.61. The company had a trading volume of 886,056 shares, compared to its average volume of 1,243,608. The company has a fifty day moving average price of $11.87. The stock has a market cap of $2.09 billion, a PE ratio of 165.86, a P/E/G ratio of 0.56 and a beta of 1.93. GreenSky has a 12 month low of $8.30 and a 12 month high of $22.30.

GreenSky (NASDAQ:GSKY) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.08. The firm had revenue of $103.70 million for the quarter, compared to analyst estimates of $103.46 million. GreenSky had a net margin of 6.27% and a negative return on equity of 120.94%. The company’s revenue was up 21.6% compared to the same quarter last year. On average, equities analysts anticipate that GreenSky will post 0.75 EPS for the current fiscal year.

In other news, Director Gregg Steven Freishtat sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $16.06, for a total value of $48,180.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 54.81% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of GreenSky by 81.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,943 shares of the company’s stock valued at $25,000 after purchasing an additional 872 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of GreenSky by 140.1% in the 4th quarter. Advisor Group Inc. now owns 3,446 shares of the company’s stock valued at $34,000 after purchasing an additional 2,011 shares in the last quarter. Cowen Prime Services LLC boosted its stake in shares of GreenSky by 100.0% in the 1st quarter. Cowen Prime Services LLC now owns 4,000 shares of the company’s stock valued at $52,000 after purchasing an additional 2,000 shares in the last quarter. Sterling Investment Advisors Ltd. boosted its stake in shares of GreenSky by 100.0% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 4,000 shares of the company’s stock valued at $52,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Royce & Associates LP purchased a new stake in shares of GreenSky in the 4th quarter valued at $55,000. 32.41% of the stock is owned by institutional investors.

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.

Further Reading: What is the price-sales ratio?

Get a free copy of the Zacks research report on GreenSky (GSKY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for GreenSky (NASDAQ:GSKY)

Receive News & Ratings for GreenSky Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GreenSky and related companies with MarketBeat.com's FREE daily email newsletter.