UPDATE: Goldman Sachs Downgrades Green Dot to Neutral
According to Goldman Sachs, Green Dot (NASDAQ: GDOT) is downgraded to Neutral.
Goldman Sachs said that it downgraded GDOT to Neutral from Buy, as it now expects increased competition from large banks and other processors, and limited new retail distribution announcements to limit the growth profile for the model. “Since adding GDOT to the Buy List (8/15/2011), the shares are down 31.6% (vs. S&P +10.0%). Ytd GDOT is down 30.8% (vs. S&P +5.3%).”
Green Dot closed yesterday at $21.61.
Latest Ratings for GDOT
|Sep 2014||Sterne Agee||Initiates Coverage on||Neutral|
|Sep 2014||Raymond James||Downgrades||Market Perform||Underperform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.