Green Dot (NYSE:GDOT) Hits New 1-Year High - Should You Buy?

Key Points

• Green Dot Corporation's shares reached a new 52-week high of $13.67, closing at $13.25, with substantial trading volume of over 4 million shares on Wednesday.
• Analysts have a mixed outlook on Green Dot, with ratings ranging from "sell" to "strong buy," and a current average price target of $13.00.
• The company reported a 23.9% year-over-year revenue increase for the last quarter, totaling $501.16 million, alongside an earnings per share of $0.40, exceeding expectations.

Shares of Green Dot Corporation (NYSE:GDOT - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $13.67 and last traded at $13.25, with a volume of 4023966 shares. The stock had previously closed at $9.93.

Wall Street Analysts Forecast Growth

GDOT has been the subject of several recent analyst reports. Northland Securities set a $16.00 price target on Green Dot in a research note on Tuesday. Wall Street Zen upgraded Green Dot from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Keefe, Bruyette & Woods upped their price target on Green Dot from $11.00 to $12.00 and gave the stock a "market perform" rating in a research note on Friday, July 11th. 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $13.00.

Green Dot Stock Performance

The firm has a 50 day moving average of $10.64 and a two-hundred day moving average of $9.18. The stock has a market cap of $733.89 million, a P/E ratio of -30.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.58 and a current ratio of 0.69.

Green Dot (NYSE:GDOT - Get Free Report) last announced its earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.23. Green Dot had a positive return on equity of 9.93% and a negative net margin of 1.24%. The firm had revenue of $501.16 million during the quarter, compared to the consensus estimate of $496.49 million. During the same quarter in the prior year, the company earned $0.25 EPS. The firm's revenue for the quarter was up 23.9% compared to the same quarter last year. On average, research analysts predict that Green Dot Corporation will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Green Dot 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 value of $346,065.09. Following the completion of the transaction, the insider 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 legal filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Green Dot

Large investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group raised its holdings in Green Dot by 350,400.0% in the 1st quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 3,504 shares in the last quarter. Virtus Advisers LLC acquired a new position in Green Dot in the 2nd quarter valued at approximately $33,000. GAMMA Investing LLC raised its holdings 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 in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of 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 worth $59,000 after buying an additional 861 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings 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 buying an additional 1,221 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company's stock.

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.