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Fly News Breaks for May 9, 2019
May 9, 2019 | 09:23 EDT
William Blair analyst Robert Napoli recommends using today's post-earnings selloff in shares of Green Dot as a buying opportunity. The company's March quarter results were better than expectations but management unveiled a plan to invest $60M in the second half of 2019 on various new initiatives that are aimed at expanding its target market, taking share, and accelerating growth, Napoli tells investors in a research note. The analyst sees a good likelihood of success given Green Dot's "strong assets and technology and visibility." Further, the $60M marketing investment is "very reasonable" given the size of the opportunity, says Napoli. He reiterates an Outperform rating on the shares.
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