GreenSky (GSKY) Given New $16.50 Price Target at Citigroup

GreenSky (NASDAQ:GSKY) had its target price raised by Citigroup from $14.00 to $16.50 in a research note issued on Wednesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the stock. Citigroup‘s price objective would suggest a potential upside of 10.81% from the company’s previous close.

A number of other research analysts have also commented on the company. Zacks Investment Research lowered GreenSky from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. SunTrust Banks upped their price target on GreenSky to $14.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $20.12.

Shares of GreenSky stock traded down $0.03 during trading hours on Wednesday, hitting $14.89. The company had a trading volume of 25,347 shares, compared to its average volume of 948,633. GreenSky has a twelve month low of $8.30 and a twelve month high of $27.01. The stock has a market cap of $2.75 billion and a price-to-earnings ratio of 213.43.

GreenSky (NASDAQ:GSKY) last issued its earnings results on Tuesday, March 5th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. GreenSky had a net margin of 8.99% and a negative return on equity of 45.61%. The business had revenue of $109.70 million during the quarter, compared to analysts’ expectations of $103.02 million. The company’s revenue was up 22.2% on a year-over-year basis. Analysts expect that GreenSky will post 0.71 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. raised its position in shares of GreenSky by 140.1% during the fourth quarter. Advisor Group Inc. now owns 3,446 shares of the company’s stock worth $34,000 after purchasing an additional 2,011 shares during the period. Royce & Associates LP acquired a new position in GreenSky during the 4th quarter worth approximately $55,000. JOYN Advisors Inc. raised its stake in GreenSky by 76.5% during the 4th quarter. JOYN Advisors Inc. now owns 7,500 shares of the company’s stock worth $72,000 after buying an additional 3,250 shares during the period. Barclays PLC raised its stake in GreenSky by 445.0% during the 4th quarter. Barclays PLC now owns 10,900 shares of the company’s stock worth $105,000 after buying an additional 8,900 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in shares of GreenSky in the fourth quarter worth approximately $120,000. Institutional investors and hedge funds own 33.15% of the company’s stock.

About GreenSky

GreenSky, Inc, a technology company, provides point-of-sale financing and payment solutions to merchants, consumers, and banks. It offers a proprietary technology infrastructure that support the full transaction lifecycle, including credit application, underwriting, real-time allocation to bank partners, document distribution, funding, settlement, and servicing functions.

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Analyst Recommendations for GreenSky (NASDAQ:GSKY)

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