Market Overview

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

Share:
Related GDOT
Green Dot Shares Largely Unaffected Following Speculation Of PayPal Interest
Green Dot Announces Multi-Year Marketing Partnership with Comedian and Television Host Steve Harvey
Green Dot jumps off report of sale interest (Seeking Alpha)

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
Nov 2015BTIG ResearchDowngradesBuyNeutral
Nov 2015Deutsche BankMaintainsHold
Sep 2015Cowen & CompanyInitiates Coverage onMarket Perform

View More Analyst Ratings for GDOT
View the Latest Analyst Ratings

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

 

Related Articles (GDOT)

View Comments and Join the Discussion!

Get Benzinga's Newsletters