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GreenSky stock plunges after earnings miss
Shares of GreenSky Inc. are falling 12% in Tuesday trading after the point-of-sale lending company fell short of expectations with its latest results. "We believe the company's model is in transition as it balances risk exposure, end-market demand and a changing funding model," SunTrust Robinson Humphrey analyst Andrew Jeffrey said in a note to clients late Monday. "Adverse share performance may be accentuated by an ongoing strategic review which has made it difficult for the company to offer deeper business insight." While he said that disclosure helps, he expects that investors will still want to see a "meaningful re-acceleration of growth metrics" before considering the name. He rates the stock at hold with a $7 target price. Shares are off 28% over the past month, as the S&P 500 has lost 6.4%.
https://finance.yahoo.com/m/0ca187b...7/greensky-stock-plunges-after.html?.tsrc=rss
Shares of GreenSky Inc. are falling 12% in Tuesday trading after the point-of-sale lending company fell short of expectations with its latest results. "We believe the company's model is in transition as it balances risk exposure, end-market demand and a changing funding model," SunTrust Robinson Humphrey analyst Andrew Jeffrey said in a note to clients late Monday. "Adverse share performance may be accentuated by an ongoing strategic review which has made it difficult for the company to offer deeper business insight." While he said that disclosure helps, he expects that investors will still want to see a "meaningful re-acceleration of growth metrics" before considering the name. He rates the stock at hold with a $7 target price. Shares are off 28% over the past month, as the S&P 500 has lost 6.4%.
https://finance.yahoo.com/m/0ca187b...7/greensky-stock-plunges-after.html?.tsrc=rss
