GreenSky (GSKY) delivered earnings and revenue surprises of -7.69% and -1.50%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?

Wall Street suggests a moderate sell rating for them Continue reading...

With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the second quarter. One of these stocks was GreenSky, Inc. (NASDAQ:GSKY). GreenSky, Inc. (NASDAQ:GSKY) was in 15 hedge […]

Atlanta-based financial technology companies Global Payments Inc. and GreenSky Inc. are seeing a growing impact from the COVID-19 pandemic. Global Payments (NYSE: GPN) said April 6 that its first quarter performance in January, February and through the first two weeks of March exceeded its internal expectations, other than a decline of approximately $15 million in revenue from COVID-19 in the Asia Pacific region.

What happened Shares of GreenSky (NASDAQ: GSKY) have plummeted today, closing down 18% after the company reported first-quarter earnings. The financial tech specialist missed expectations for both the top and bottom lines.

(Bloomberg) -- Financial technology startups will enter the next decade with a little more street cred than the last time around.Nearly 60 upstarts focusing on financial services -- from Stripe Inc. to Chime Inc. to Plaid Inc. -- have garnered valuations of more than $1 billion in recent years, according to CB Insights. Personal loans -- a category popularized by fintechs like GreenSky Inc. or Affirm Inc. -- are now the fastest growing form of debt in the U.S., Experian data says. And Robinhood sparked a movement toward free stock trading that has shaken the business models of the likes of Charles Schwab Corp. and E*Trade Financial Corp.Still, analysts and experts say there’s more to come. Sweeping mergers and acquisitions have transformed some of the industry’s largest incumbents in payments, who are gearing up for a bigger fight for market share with newcomers. And regulators are looking to have more say over how technology companies venture into financial services.Here’s our annual list of the most important trends, challenges and companies to watch in the New Year.Exit StrategiesMergers and acquisitions have historically been small and rare in the fintech space, but that changed in a big way in 2019. Fiserv Inc., Fidelity National Information Services Inc. and Global Payments Inc. did a series of deals that transformed payment processing in the U.S. More recently, PayPal Holdings Inc. made its largest acquisition ever and Charles Schwab announced it would buy TD Ameritrade Holding Corp. for about $26 billion. That frenzied pace of deal-making might continue through (at least some of) 2020.Lindsay Davis, senior intelligence analyst, CB Insights: “Wealth management will likely see more consolidation from incumbents, who are under pressure to compete for next-gen customers and an army of virally growing fintech apps who have abstracted the client relationship away from the old guard. Charles Schwab buying TD Ameritrade is just the beginning of more strategic consolidation to come.”Matt Harris, partner, Bain Capital Ventures: “I think there is a window during the first half of the year for IPOs, but once summer hits people will be fundamentally distracted by the election. I certainly don’t think it will be fast and furious.”Regulatory ScrutinyMemorably, in 2019 Mark Zuckerberg defended Facebook Inc.’s plan to overhaul the world banking system in front of Congress. (Legislators were not amused.) Our experts think there’s plenty more government scrutiny ahead for financial technology players. That’s even though regulators including the Federal Reserve and the Federal Deposit Insurance Corp. have sought to encourage banks to work with newer technologies like alternative data in their underwriting in an attempt to bring more people into the financial services ecosystem. Companies will need to adjust their strategies accordingly.Alyson Clarke, principal analyst, Forrester: “Regulators are going to start taking a closer look and scrutinizing artificial intelligence. The whole Apple Card and the supposed gender bias -- I think we’ll see more things like this surface. Transparency in AI is critical and ethics in AI is critical and it needs regulatory oversight.”Vanessa Colella, Chief Innovation Officer, Citigroup Inc.: “We want to make sure the people who are transacting are who they say they are. As we get to 40 billion devices online, you can see it’s not just about KYC, or Know Your Customer, it’s KYM, or Know Your Machine -- and being sure that, as these transactions are happening at the edge, that you’re able to validate what the machine is, and whether the machine has the permission and the capability to make that transaction.”The Rise of Digital BanksChime, the leading U.S. digital bank, is now valued at $5.8 billion. That makes it more valuable than some of the country’s largest banks, including New York Community Bancorp, CIT Group Inc. or Synovus Financial Corp. It’s part of a new class of entrants, known as “challenger banks” or “neo-banks,” that’s raised more than $3 billion in venture funding in the first three quarters of this year. With that has come millions of customers. Will they remain loyal? Or will traditional lenders be able to win them back?Frank Rotman, founding partner, QED Investors: “While these neo-banks can’t yet match the complete suite of banking products that a traditional branch-based bank can, this doesn’t matter to the typical consumer because they rarely, if ever, use any of the hundreds of products that are in a bank’s arsenal. So we’ll be talking about challenger banks in 2020 and in 2021 and in 2022 and eventually the ‘challenger’ title will be dropped because they’ll be major players in the ecosystem.”Mitch Siegel, principal, KPMG: “I do believe 2020 is an arms race: You’re going to see a lot of people launching digital banking initiatives. Personalization is what’s changed that game. Cross-selling without personalization seems sleazy but if you can personalize offers, and give me things that are high probability that I actually want them, I’m OK with you trying to sell me other products and services. Make it easy. Know me. Value me. Protect me.”The Bank of Apple? Big Tech Moves InIf you’ve read this annual post before, you’ll be no stranger to predictions that the technology giants of the world will move deeper in to finance. The pace of those moves accelerated this year, however, with Apple launching a credit card with Goldman Sachs Group Inc., Alphabet Inc. announcing a checking product with Citigroup, and Facebook attempting to make a new global currency.Matt Harris: “I think this is inevitable. Tech companies, large and small, will be looking to incorporate payments, lending and insurance in their business models in the coming years, and the smartest and most capable banks will want to be part of that movement. I do think this raises the stakes for pure fintech startups.”Frank Rotman: “The trend is broader than ‘tech getting into finance.’ It should be seen as ‘customer-facing organizations’ offering their customers banking products. Many customer-facing organizations have built up trust with their customers -- as evidenced by high engagement and high net promoter scores -- but don’t want to, nor see the need for, officially becoming a bank. Instead, they can partner with banks that are willing to co-brand or white label their services and offer great banking products to their loyal customers.”Lindsay Davis: “Netflix could also leverage financial services to compete and enable gig-economy workers and freelancers in the film and TV industry, which have been traditionally too niche to serve, and have a unique set of pain points.”To contact the reporters on this story: Julie Verhage in New York at jverhage2@bloomberg.net;Jenny Surane in New York at jsurane4@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Anne VanderMey, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

GSKY earnings call for the period ending March 31, 2020.

GreenSky (GSKY) delivered earnings and revenue surprises of -200.00% and -1.66%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

IHS Markit's (INFO) automotiveMastermind is in a continuous process of developing COVID-19-related resources for dealerships.

GreenSky, Inc. Reports First Quarter 2020 Financial Results

GreenSky (GSKY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

The phone number for Gerald R. Benjamin in contact section of release (dated March 19, 2020) should read 404.380.1093 (instead of 404.380.1903).

GreenSky (GSKY) saw a big move last session, as its shares jumped nearly 8% on the day, amid huge volumes.

Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]

Xerox's (XRX) latest move underscores its support for the society to help it sail through the coronavirus pandemic.

GreenSky, Inc. Reports Fiscal Year 2019 Financial Results

GreenSky, Inc. ("GreenSky" or the "Company") (NASDAQ: GSKY), a leading financial technology company Powering Commerce at the Point of Sale®, today commented on business, operational and liquidity trends.

Consecutive better-than-expected top and bottom-line performances, diverse offerings and strength across international operations are aiding FTI Consulting (FCN) stock.

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%.

GreenSky to Report First Quarter Fiscal 2020 Results on May 11, 2020