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GDOT

Green Dot

$23.05

0.27 (1.19%)

08:57
10/11/19
10/11
08:57
10/11/19
08:57

Green Dot upgraded to Outperform from Market Perform at Northland

Northland analyst Mike Grondahl upgraded Green Dot (GDOT) to Outperform from Market Perform with an unchanged $35 price target. The company has had a "horrible 2019," with legacy active accounts decreasing due to competition, uncertainty about its new products, a Walmart (WMT) renewal overhang and two guidance cuts, acknowledged Grondahl. However the stock is now "priced for run-off" and is trading at a little over 4 times adjusted EBITDA, compared to 13-14 times "when the stock was working," the analyst tells investors.

GDOT Green Dot
$23.05

0.27 (1.19%)

09/05/19
JEFF
09/05/19
DOWNGRADE
Target $32
JEFF
Hold
Green Dot downgraded to Hold from Buy at Jefferies
Jefferies analyst John Hecht downgraded Green Dot to Hold from Buy and lowered his price target for the shares to $32 from $62.
09/05/19
JEFF
09/05/19
DOWNGRADE
Target $32
JEFF
Hold
Jefferies downgrades Green Dot to Hold, cuts target to $32 from $62
Jefferies analyst John Hecht downgraded Green Dot (GDOT) to Hold from Buy and lowered his price target for the shares to $32 from $62. The company's organic revenue growth has been slowing and it is trying to establish share in a new customer target market with well-resourced competitors, Hecht tells investors in a research note. In addition, Green Dot's current new customer goals "look like a stretch in light of historical trends," adds the analyst. He points out that Square (SQ) and PayPal (PYPL) are observing monthly downloads at a rate of six-times Green Dot. Hecht sees potential downside to earnings and few positive catalysts in the intermediate term for Green Dot.
09/05/19
09/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. BHP Group (BHP) downgraded to Underperform from Neutral at Exane BNP Paribas. 2. Mallinckrodt (MNK) downgraded to Market Perform from Outperform at BMO Capital analyst Gary Nachman citing yesterday's Bloomberg reports that the company hired restructuring firms to help manage through its opioid litigation. 3. Yirendai (YRD) downgraded to Underperform from Neutral at Macquarie with analyst Dexter Hsu saying the company not only reported "disappointing" Q2 results, but also closed the merger with CreditEase on unfavorable terms. 4. Green Dot (GDOT) downgraded to Hold from Buy at Jefferies with analyst John Hecht saying the company's organic revenue growth has been slowing and it is trying to establish share in a new customer target market with well-resourced competitors. 5. Royal Dutch Shell (RDS.A, RDS.B) downgraded to Market Perform from Outperform at Cowen with analyst Jason Gabelman saying the downgrade reflects its peer leading exposure to international gas prices which are forecasted lower through 2020 and as a result could limit its free cash flow growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/19
ADAM
09/11/19
INITIATION
Target $29
ADAM
Hold
Green Dot initiated with a Hold at Canaccord
Canaccord analyst Joseph Vafi initiated Green Dot with a Hold rating and $29 price target, calling its medium-term potential "quite intriguing" but voicing concern in the short term about materially increased competition affecting the legacy prepaid business.

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