Barclays Forecasts Strong Price Appreciation for Green Dot (NYSE:GDOT) Stock

Green Dot (NYSE:GDOT - Free Report) had its price objective boosted by Barclays from $7.00 to $10.00 in a research note published on Monday,Benzinga reports. They currently have an underweight rating on the financial services provider's stock.

A number of other brokerages have also recently weighed in on GDOT. Craig Hallum upgraded Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a research report on Friday, March 14th. Keefe, Bruyette & Woods decreased their target price on Green Dot from $12.00 to $10.00 and set a "market perform" rating on the stock in a report on Friday, February 28th. Northland Securities upgraded Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 target price on the stock in a report on Wednesday, April 9th. Finally, Northland Capmk upgraded Green Dot from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.50.

Green Dot Stock Performance

Shares of GDOT traded down $0.25 on Monday, reaching $9.46. 627,537 shares of the stock traded hands, compared to its average volume of 630,832. The firm has a market cap of $512.74 million, a price-to-earnings ratio of -9.00 and a beta of 0.76. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.52 and a quick ratio of 0.52. Green Dot has a 12 month low of $6.12 and a 12 month high of $13.58. The stock's 50-day moving average price is $8.10 and its 200-day moving average price is $9.19.

Green Dot (NYSE:GDOT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.36. Green Dot had a positive return on equity of 3.84% and a negative net margin of 3.39%. The firm had revenue of $555.96 million for the quarter, compared to analysts' expectations of $503.20 million. During the same period in the prior year, the business posted $0.59 earnings per share. The business's revenue was up 23.6% compared to the same quarter last year. Equities analysts forecast that Green Dot will post 0.87 EPS for the current fiscal year.

Insider Activity

In other news, insider Christian Devin Ruppel sold 10,189 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $11.00, for a total transaction of $112,079.00. Following the sale, the insider now owns 253,139 shares of the company's stock, valued at $2,784,529. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GDOT. Brooklyn Investment Group grew its holdings in shares of Green Dot by 350,400.0% during the first quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider's stock worth $30,000 after buying an additional 3,504 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Green Dot during the fourth quarter worth about $44,000. GAMMA Investing LLC grew its holdings in shares of Green Dot by 152.0% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock worth $48,000 after buying an additional 3,416 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Green Dot during the fourth quarter worth about $84,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Green Dot during the first quarter worth about $96,000. 92.56% of the stock is currently owned by institutional investors.

About Green Dot

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.