Fly News Breaks for June 3, 2019
Jun 3, 2019 | 09:25 EDT
Loop Capital analyst Joseph Vafi kept his Buy rating and $75 price target on Greet Dot after his meeting with its Chief Revenue Officer last week, saying he "could not be more enthusiastic" about the company's rapid evolution of its banking as a Service platform. The analyst says Green Dot offers "market leading" fin-tech software solutions for non-bank companies while building its deal pipeline and building its sales force, adding that he is also positive on the "stickier" economics for BaaS revenue. Vafi contends that Green Dot may be in the "penalty box" in the near term amid accelerated investment spending, but he is very positive on the company's long-term potential.
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