GreenSky (GSKY) Price Target Cut to $11.00

GreenSky (NASDAQ:GSKY) had its price objective trimmed by SunTrust Banks to $11.00 in a research report report published on Wednesday, The Fly reports. The brokerage currently has a buy rating on the stock. SunTrust Banks also issued estimates for GreenSky’s Q4 2018 earnings at $0.10 EPS, FY2018 earnings at $0.57 EPS, Q1 2019 earnings at $0.06 EPS, Q2 2019 earnings at $0.12 EPS, Q3 2019 earnings at $0.14 EPS, Q4 2019 earnings at $0.10 EPS, FY2019 earnings at $0.42 EPS and FY2020 earnings at $0.64 EPS.

A number of other analysts have also weighed in on GSKY. Compass Point reaffirmed a hold rating and set a $22.00 target price on shares of GreenSky in a report on Wednesday, August 8th. Sandler O’Neill reaffirmed a hold rating and set a $20.00 target price on shares of GreenSky in a report on Wednesday, August 8th. Citigroup decreased their target price on shares of GreenSky from $28.00 to $26.00 and set a buy rating on the stock in a report on Wednesday, August 8th. Credit Suisse Group decreased their price target on shares of GreenSky from $29.00 to $28.00 and set an outperform rating on the stock in a report on Wednesday, August 8th. Finally, Cowen raised shares of GreenSky from a neutral rating to a buy rating in a report on Thursday, August 16th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. GreenSky presently has an average rating of Buy and a consensus target price of $20.62.

GreenSky stock opened at $9.71 on Wednesday. GreenSky has a 1-year low of $8.55 and a 1-year high of $27.01.

GreenSky (NASDAQ:GSKY) last posted its earnings results on Tuesday, November 6th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 firm’s revenue was up 29.0% on a year-over-year basis. On average, equities analysts forecast that GreenSky will post 0.57 earnings per share for the current year.

In related news, insider Dennis I. Kelly purchased 27,000 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were purchased at an average price of $9.06 per share, with a total value of $244,620.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Several large investors have recently modified their holdings of GSKY. Sei Investments Co. bought a new position in shares of GreenSky in the 2nd quarter worth $118,000. Mycio Wealth Partners LLC bought a new position in shares of GreenSky during the 3rd quarter valued at $180,000. California Public Employees Retirement System bought a new position in shares of GreenSky during the 2nd quarter valued at $212,000. EJF Capital LLC bought a new position in shares of GreenSky during the 2nd quarter valued at $212,000. Finally, Gilder Gagnon Howe & Co. LLC bought a new position in shares of GreenSky during the 2nd quarter valued at $229,000. 31.30% of the stock is currently owned by hedge funds and other 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.

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