Green Dot (NYSE:GDOT) Hits New 52-Week High - What's Next?

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 share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $14.70 and last traded at $14.77, with a volume of 122099 shares traded. The stock had previously closed at $13.83.

Wall Street Analyst Weigh In

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

Green Dot Stock Down 0.3%

The business has a fifty day simple moving average of $11.96 and a two-hundred day simple moving average of $9.83. 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 company has a market cap of $751.64 million, a PE ratio of -30.84 and a beta of 0.77.

Green Dot (NYSE:GDOT - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.23. The company had revenue of $501.16 million for the quarter, compared to analyst estimates 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 for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. As a group, equities research analysts predict that Green Dot Corporation will post 0.87 earnings per share for the current year.

Insiders Place Their Bets

In other Green Dot news, insider Christian Devin Ruppel sold 27,931 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $12.39, for a total value of $346,065.09. Following the transaction, the insider owned 226,656 shares in the company, valued at approximately $2,808,267.84. This trade represents a 10.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC lifted its holdings in Green Dot by 24.9% in the 2nd quarter. Squarepoint Ops LLC now owns 183,924 shares of the financial services provider's stock valued at $1,983,000 after purchasing an additional 36,704 shares in the last quarter. State of Wyoming acquired a new stake in shares of Green Dot in the 2nd quarter worth $413,000. Caxton Associates LLP increased its stake in shares of Green Dot by 162.0% in the 2nd quarter. Caxton Associates LLP now owns 29,870 shares of the financial services provider's stock worth $322,000 after acquiring an additional 18,468 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of 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 worth $70,000 after acquiring an additional 1,221 shares during the last quarter. Finally, State of Tennessee Department of Treasury increased its stake in shares of Green Dot by 99.0% in the 2nd quarter. State of Tennessee Department of Treasury now owns 22,966 shares of the financial services provider's stock worth $248,000 after acquiring an additional 11,423 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.