BUZZ-Green Dot slides after downbeat annual profit forecast

Reuters
03-01
BUZZ-<a href="https://laohu8.com/S/GDOT">Green Dot</a> slides after downbeat annual profit forecast

** Shares of digital bank and fintech Green Dot GDOT.N slide as much as 14.7%

** GDOT on Thursday forecast annual adjusted EPS below Wall Street expectations

** Co says consumer segment remains under pressure due to headwinds in retail channel amid declines in active accounts and revenue

** William Blair says GDOT is pivoting its focus to growth, but turning around the retail division will remain a challenge

** Says GDOT's assets are likely undervalued, but there is still work to be done and maintains its "market perform" rating

** Avg. rating of five analysts is "hold"; median PT is $10 - LSEG data

** GDOT stock down 31.5% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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