UPDATE: Piper Jaffray Downgrades Green Dot to Neutral

In a report published Wednesday, Piper Jaffray's Michael Grondahl downgraded shares of Green Dot Corporation

from Overweight to Neutral. The price target was decreased from $28.00 to $26.00. Grondahl noted, "After a great run, we believe GDOT shares are now poised for a pause or even a slight pull back near term." The analyst warned, "We could be wrong if investors look past the softness in the next two quarters and towards the better growth prospects in 2014." Interestingly, the Piper analyst maintained most of his estimates for Green Dot; he lowered his FY13 EPS estimate from $1.21 to $1.12. Shares are currently trading at $24.37 and hovering near the 52-week high of $26.61