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

Zacks Investment Research upgraded shares of GreenSky (NASDAQ:GSKY) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. The firm 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. “

Other equities analysts also recently issued research reports about the stock. Guggenheim downgraded shares of GreenSky from a buy rating to a neutral rating and lifted their price objective for the stock from $13.75 to $13.76 in a report on Wednesday, May 8th. Citigroup dropped their target price 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. raised their price target on shares of LYFT from $82.00 to $86.00 in a research report on Wednesday, May 8th. Finally, SunTrust Banks raised their price target on shares of Constellation Brands from $180.00 to $190.00 and gave the stock a hold rating in a research report on Monday, July 1st. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $16.44.

NASDAQ:GSKY opened at $11.78 on Wednesday. The company has a market cap of $2.11 billion, a P/E ratio of 168.29, a PEG ratio of 0.58 and a beta of 1.93. The business’s 50 day moving average price is $11.88. GreenSky has a 52 week low of $8.30 and a 52 week high of $22.30.

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

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in GSKY. Shapiro Capital Management LLC bought a new position in GreenSky in the 4th quarter worth approximately $74,166,000. Norges Bank acquired a new stake in GreenSky in the 4th quarter valued at approximately $25,874,000. UBS Oconnor LLC raised its stake in GreenSky by 385.1% during the 4th quarter. UBS Oconnor LLC now owns 2,590,400 shares of the company’s stock valued at $24,790,000 after acquiring an additional 2,056,400 shares in the last quarter. Spark Investment Management LLC raised its stake in GreenSky by 40.2% during the 1st quarter. Spark Investment Management LLC now owns 1,152,200 shares of the company’s stock valued at $14,909,000 after acquiring an additional 330,414 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in GreenSky by 155.2% during the 1st quarter. Marshall Wace LLP now owns 1,088,923 shares of the company’s stock valued at $14,091,000 after acquiring an additional 662,260 shares in the last quarter. 32.41% of the stock is currently owned by institutional investors.

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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