GreenSky (GSKY), Moves 53.2% Higher. Will this Strength Last?

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GreenSky shares rose 53.2% to $11.90 in trading on Sep 15. Solid volume supported the move with more shares being traded than usual. This is compared to the stock’s loss of 2.5% over the last four weeks.

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This increase in investor optimism is due to its news that it had merged with Goldman Sachs, (GS), for $12.11 each share. The transaction value was $2.24 trillion.


Consensus and Price

The financial technology company will report quarterly earnings at $0.13 per share. This is a +333.3% increase year over year. The revenue is expected to rise 0.5% over the previous quarter, at $142.72million

While revenue growth and earnings expectations are a great indicator of potential stock strength, empirical research has shown that revisions to earnings estimates strongly correlate with stock price movements in the near future.

GreenSky’s consensus EPS estimate has increased by 26.7% in the past 30 days, to its current level. A positive trend in earnings estimates revisions usually leads to price appreciation. The stock’s current price is close to the purchase price, so the chances of price appreciation are slim.

This stock is currently a Zacks Rank 2, (Buy). The complete list of Zacks #1 (Strong Buy), stocks today can be viewed >>>>

Zacks names “Best Pick to Double”

Five Zacks experts have selected their top pick from thousands of stocks to rocket +100% in the months ahead. Sheraz Mian, Director of Research picks the one with the greatest upside.

This company is well-known from its glory days. But few people would have predicted that the company was poised to make a huge turnaround. It could surpass or exceed other Zacks’ stocks set to double, such as Boston Beer Company (up +143.0% over 9 months) and Nvidia (up +175.9% within a year).


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GreenSky, Inc.

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Zacks Investment Research

Publited Fri, 17 September 2021 at 01:22.05 +0000

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