Morgan Stanley (NYSE: MS) Gives Green Dot (NASDAQ: GDOT) an “Overweight Rating”

Morgan Stanley (NYSE: MS) analysts gave shares of Green Dot (NASDAQ: GDOT) a $60.00 price target and an “overweight” rating in a research note to investors on Monday, saying that the company is one of the fastest growing plays in the payments market.

Green Dot Corporation (Green Dot) is a prepaid financial services company providing money management solutions to United States consumers. The Company is a provider of general purpose reloadable prepaid debit cards (GPR cards) in the United States and its Green Dot Network is the prepaid reload network in the United States. It sells its cards and offers its reload services at approximately 50,000 retail stores, which provide consumers access to its products and services. Its technology platform, Green PlaNET, enables real-time transactions in a secure environment.

Shares of GDOT traded up 0.72% hitting $50.20 during mid-day trading on Monday.

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