Green Dot Corporation (NYSE:GDOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $71.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.29% from the stock’s current price.
According to Zacks, “Green Dot Corporation is a technology-centric, pro-consumer Bank Holding Company with a mission to reinvent personal banking for the masses. The company is the largest provider of prepaid debit card products and prepaid card reloading services in the United States, as well as a leader in mobile banking with its GoBank mobile bank account offering. Green Dot Corporation products are available to consumers at more than 80,000 retailers nationwide, online and via the leading app stores. The company is headquartered in Pasadena, California with its bank subsidiary, Green Dot Bank, located in Provo, Utah. “
Other analysts have also issued reports about the stock. BidaskClub lowered shares of Green Dot Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Citigroup Inc. reiterated a “buy” rating and set a $46.00 target price (up from $40.00) on shares of Green Dot Corporation in a research report on Monday, July 24th. Lake Street Capital upgraded shares of Green Dot Corporation from a “hold” rating to a “buy” rating and lifted their target price for the company from $41.00 to $44.00 in a research report on Wednesday, August 9th. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Green Dot Corporation in a research report on Wednesday, September 20th. Finally, ValuEngine upgraded shares of Green Dot Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Green Dot Corporation currently has a consensus rating of “Buy” and a consensus price target of $52.85.
Green Dot Corporation (NYSE GDOT) traded down $0.84 during midday trading on Monday, reaching $63.80. 613,400 shares of the company’s stock traded hands, compared to its average volume of 349,773. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.09. The firm has a market cap of $3,219.03, a price-to-earnings ratio of 37.31 and a beta of 0.91. Green Dot Corporation has a 52 week low of $22.19 and a 52 week high of $65.88.
Green Dot Corporation (NYSE:GDOT) last posted its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.14. The company had revenue of $201.60 million for the quarter, compared to analyst estimates of $191.33 million. Green Dot Corporation had a net margin of 8.61% and a return on equity of 12.55%. The business’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. sell-side analysts forecast that Green Dot Corporation will post 1.71 earnings per share for the current year.
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In other Green Dot Corporation news, General Counsel John C. Ricci sold 20,707 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $47.21, for a total value of $977,577.47. Following the completion of the transaction, the general counsel now directly owns 91,163 shares of the company’s stock, valued at $4,303,805.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Glinda Bridgforth-Hodges sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $46.92, for a total transaction of $351,900.00. Following the completion of the transaction, the director now directly owns 5,003 shares of the company’s stock, valued at $234,740.76. The disclosure for this sale can be found here. Insiders have sold a total of 164,040 shares of company stock valued at $8,297,066 over the last three months. 11.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in GDOT. Daiwa Securities Group Inc. bought a new position in shares of Green Dot Corporation in the second quarter worth about $108,000. IFP Advisors Inc raised its stake in shares of Green Dot Corporation by 5,537.3% in the second quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 2,824 shares during the last quarter. Turner Investments LLC bought a new position in shares of Green Dot Corporation in the second quarter worth about $154,000. Riverhead Capital Management LLC raised its stake in shares of Green Dot Corporation by 55.0% in the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 1,429 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Green Dot Corporation by 13.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,013 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 472 shares during the last quarter. 76.91% of the stock is owned by institutional investors.
Green Dot Corporation Company Profile
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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