Green Dot (NYSE:GDOT) Reaches New 1-Year High - Still a Buy?

Key Points

• Green Dot Corporation's stock hit a new 52-week high of $14.77, reflecting a growth of 5.8% after previously closing at $13.83.
• Analysts have updated their ratings and price targets for Green Dot, with Zacks Research upgrading it to a "strong-buy" and Northland Securities setting a target of $16.00.
• The company reported a significant increase in revenue and earnings per share in its latest quarterly earnings, exceeding expectations with $501.16 million in revenue and $0.40 EPS.

Green Dot Corporation (NYSE:GDOT - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $14.70 and last traded at $14.77, with a volume of 122099 shares trading hands. The stock had previously closed at $13.83.

Analysts Set New Price Targets

Several research analysts have weighed in on GDOT shares. Zacks Research upgraded shares of Green Dot from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Green Dot from $11.00 to $12.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Wall Street Zen raised Green Dot from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Northland Securities set a $16.00 price target on Green Dot in a research note on Tuesday, August 12th. Finally, Barclays upped their price target on Green Dot from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Green Dot presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

Green Dot Stock Up 5.8%

The firm has a market capitalization of $810.63 million, a PE ratio of -33.26 and a beta of 0.77. The company has a fifty day moving average price of $11.74 and a 200-day moving average price of $9.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.69 and a current ratio of 0.69.

Green Dot (NYSE:GDOT - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $501.16 million for 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 company's revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. As a group, analysts expect that Green Dot Corporation will post 0.87 earnings per share for the current year.

Insider Activity

In other news, insider Christian Devin Ruppel sold 27,931 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $12.39, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by company insiders.

Institutional Trading of Green Dot

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group raised its holdings in Green Dot by 350,400.0% during the 1st quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider's stock valued at $30,000 after buying an additional 3,504 shares during the period. Virtus Advisers LLC bought a new position in Green Dot in the 2nd quarter valued at $33,000. GAMMA Investing LLC grew its position in Green Dot by 152.0% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 3,416 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Green Dot by 18.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,478 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 861 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Green Dot by 23.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 1,221 shares during the last quarter. Hedge funds and other institutional investors own 92.56% of the company's stock.

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.

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