UPDATE: Barclays Downgrades Green Dot (GDOT) to Equalweight

August 15, 2022 3:13 AM EDT
Get Alerts GDOT Hot Sheet
Price: $18.21 -2.88%

Rating Summary:
    8 Buy, 22 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 1 | New: 7
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(Updated - August 15, 2022 4:13 AM EDT)

Barclays analyst Ramsey El-Assal downgraded Green Dot (NYSE: GDOT) from Overweight to Equalweight with a price target of $25.00 (from $31.00).

The analyst comments "We remained positive on GDOT because we believed—and continue to believe—that the company comprises a valuable collection of assets. These assets should enable GDOT to pursue a number of compelling growth opportunities, including a pivot into digital wallets with the Go2Bank strategy as well as increased penetration of the white-label BaaS business. Likewise, we see structural/technical similarities between GDOT’s program management and issuance capabilities and modern card issuing platforms such as MQ and Galileo. We also remain convinced that management quite accurately perceives the “latent” value in the GDOT product portfolio."

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 $23.63 yesterday.

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