Green Dot (NYSE:GDOT) Hits New 52-Week High - Should You Buy?

Key Points

• Green Dot Corporation shares reached a new 52-week high of $15.23, marking a significant increase from the previous close of $14.53.
• Analysts have generally upgraded their ratings on Green Dot, with Wall Street Zen and Zacks Research both moving from "hold" to "buy" or "strong-buy." The stock has a consensus rating of "Moderate Buy" and an average price target of $13.00.
• The company reported earnings per share of $0.40 for the last quarter, significantly exceeding analyst expectations and indicating a revenue increase of 23.9% compared to the same quarter last year.

Shares of Green Dot Corporation (NYSE:GDOT - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.17 and last traded at $15.23, with a volume of 338961 shares changing hands. The stock had previously closed at $14.53.

Analyst Ratings Changes

GDOT has been the subject of a number of analyst reports. Wall Street Zen raised Green Dot from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Keefe, Bruyette & Woods upped their price target on Green Dot from $11.00 to $12.00 and gave the company a "market perform" rating in a research report on Friday, July 11th. Northland Securities set a $16.00 price objective on shares of Green Dot in a research report on Tuesday, August 12th. Finally, Zacks Research raised shares of Green Dot from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $13.00.

Green Dot Price Performance

The stock has a market capitalization of $801.49 million, a PE ratio of -32.89 and a beta of 0.77. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $12.31 and a 200 day moving average price of $10.10.

Green Dot (NYSE:GDOT - Get Free Report) last released its earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.23. The firm had revenue of $501.16 million during the quarter, compared to analysts' expectations of $496.49 million. Green Dot had a positive return on equity of 9.93% and a negative net margin of 1.24%.The firm's revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the business posted $0.25 earnings per share. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. Research analysts anticipate that Green Dot Corporation will post 0.87 earnings per share for the current year.

Insider Activity at Green Dot

In related news, insider Christian Devin Ruppel sold 27,931 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $12.39, for a total value of $346,065.09. Following the sale, the insider directly owned 226,656 shares of the company's stock, valued at $2,808,267.84. This represents a 10.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Green Dot

Institutional investors have recently modified their holdings of the stock. Topline Capital Management LLC raised its holdings in shares of Green Dot by 7.2% in the second quarter. Topline Capital Management LLC now owns 4,965,286 shares of the financial services provider's stock valued at $53,526,000 after acquiring an additional 331,817 shares in the last quarter. American Century Companies Inc. increased its stake in Green Dot by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 1,416,163 shares of the financial services provider's stock valued at $15,266,000 after purchasing an additional 182,113 shares in the last quarter. Prudential Financial Inc. lifted its position in Green Dot by 14.2% during the 2nd quarter. Prudential Financial Inc. now owns 1,327,367 shares of the financial services provider's stock worth $14,309,000 after acquiring an additional 165,026 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Green Dot by 0.5% during the second quarter. Geode Capital Management LLC now owns 1,280,956 shares of the financial services provider's stock worth $13,812,000 after purchasing an additional 5,933 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Green Dot by 403.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,223,123 shares of the financial services provider's stock valued at $13,185,000 after buying an additional 980,012 shares during the last quarter. 92.56% of the stock is owned by hedge funds and other institutional investors.

Green Dot Company Profile

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.