Zacks Investment Research lowered shares of GreenSky (NASDAQ:GSKY) from a buy rating to a hold rating in a research report released on Wednesday.

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 analysts have also recently weighed in on GSKY. Compass Point began coverage on GreenSky in a research report on Thursday, June 14th. They set a neutral rating and a $27.00 price objective for the company. Goldman Sachs Group began coverage on GreenSky in a report on Monday, June 18th. They issued a buy rating and a $31.00 price target for the company. Morgan Stanley began coverage on GreenSky in a report on Monday, June 18th. They issued an overweight rating and a $28.00 price target for the company. Credit Suisse Group began coverage on GreenSky in a report on Monday, June 18th. They issued an outperform rating and a $29.00 price target for the company. Finally, Guggenheim began coverage on GreenSky in a report on Monday, June 18th. They issued a buy rating and a $30.00 price target for the company. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. GreenSky has a consensus rating of Buy and an average target price of $26.50.

GreenSky stock traded down $0.04 during mid-day trading on Wednesday, reaching $15.33. 973,616 shares of the company were exchanged, compared to its average volume of 1,271,891. GreenSky has a twelve month low of $14.49 and a twelve month high of $27.01. The company has a quick ratio of 31.97, a current ratio of 31.97 and a debt-to-equity ratio of -8.35.

GreenSky (NASDAQ:GSKY) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $105.70 million for the quarter, compared to analyst estimates of $105.57 million. Analysts predict that GreenSky will post 0.65 earnings per share for the current fiscal year.

In other GreenSky news, Director Nigel W. Morris purchased 62,500 shares of GreenSky stock in a transaction dated Friday, August 10th. The stock was acquired at an average cost of $15.69 per share, with a total value of $980,625.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Waddell & Reed Financial Inc. acquired a new stake in shares of GreenSky in the 2nd quarter valued at approximately $40,116,000. Federated Investors Inc. PA acquired a new position in GreenSky during the second quarter worth $34,363,000. Millennium Management LLC acquired a new position in GreenSky during the second quarter worth $27,892,000. BlackRock Inc. acquired a new position in GreenSky during the second quarter worth $27,650,000. Finally, TPG Group Holdings SBS Advisors Inc. acquired a new position in GreenSky during the second quarter worth $26,606,000. 30.98% of the stock is 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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Analyst Recommendations for GreenSky (NASDAQ:GSKY)

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