Market Overview

UPDATE: Deutsche Bank Downgrades Green Dot to Hold; Model Broken Down

Share:
Related GDOT
Mid-Afternoon Market Update: US Stocks Mostly Flat; Darden Restaurants Rises Following Strong Earnings Report, Potential REIT Separation
Mid-Day Market Update: Sonic Slides On Cautious Forecast; Green Dot Shares Jump

Deutsche Bank lowered its rating on Green Dot (NYSE: GDOT) from Buy to Hold and reduced its price target from $35 to $18.

Deutsche Bank noted, "GDOT reported 2Q12 operating revs of $139m and pro forma EPS of $0.35, both shy of our respective $144m and $0.38 ests. Surprisingly, GDOT lowered guidance significantly, highlighting increased competition and additional risk/compliance costs. Unfortunately, we were under the impression that GDOT would compete effectively and had its operational costs under control to adjust to the changing prepaid environment, but we were wrong."

Green Dot closed at $23.32 on Thursday.

Latest Ratings for GDOT

DateFirmActionFromTo
Jun 2015Compass PointMaintainsNeutral
Jun 2015Keefe Bruyette & WoodsMaintainsMarket Perform
Jun 2015Deutsche BankMaintainsHold

View More Analyst Ratings for GDOT
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (GDOT)

Around the Web, We're Loving...

Get Benzinga's Newsletters