Wedbush Downgrades Green Dot (GDOT) to Neutral - Misplaced Among The Giftcards; Possible Takeover Target?
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Price: $13.53 +0.15%
Rating Summary:
5 Buy, 24 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 24 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush downgraded Green Dot (NYSE: GDOT) from Outperform to Neutral with a price target of $19.00 (from $43.00).
Analyst, Gil Luria, said, "We believe visibility into Green Dot’s growth has been diminished, leading us to downgrade shares...We continue to consider Green Dot the leader in the fast growing GPR market, but struggle to get comfortable with its ability to benefit from this growth in the current state of flux."
"We believe shares may be protected by the potential value to a larger financial institution. We believe that payment-centric financial institutions may see the current flux in the GPR market as an opportunity to enter the market through acquisition."
FY12 EPS estimate cut from $1.70 to $1.29 and FY13 from $2.12 to $1.29.
For an analyst ratings summary and ratings history on Green Dot click here. For more ratings news on Green Dot click here.
Shares of Green Dot closed at $23.32 yesterday.
Analyst, Gil Luria, said, "We believe visibility into Green Dot’s growth has been diminished, leading us to downgrade shares...We continue to consider Green Dot the leader in the fast growing GPR market, but struggle to get comfortable with its ability to benefit from this growth in the current state of flux."
"We believe shares may be protected by the potential value to a larger financial institution. We believe that payment-centric financial institutions may see the current flux in the GPR market as an opportunity to enter the market through acquisition."
FY12 EPS estimate cut from $1.70 to $1.29 and FY13 from $2.12 to $1.29.
For an analyst ratings summary and ratings history on Green Dot click here. For more ratings news on Green Dot click here.
Shares of Green Dot closed at $23.32 yesterday.
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