Green Dot (NYSE:GDOT) Sets New 12-Month High - Time to 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 trading hands. The stock had previously closed at $9.93.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GDOT shares. Barclays boosted their price objective on Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Monday, May 12th. Northland Securities set a $16.00 price objective on Green Dot in a research report on Tuesday. Wall Street Zen upgraded Green Dot from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Keefe, Bruyette & Woods boosted their price objective 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.00.

Green Dot Stock Performance

The company has a market capitalization of $727.29 million, a PE ratio of -30.11 and a beta of 0.75. The company has a 50 day moving average of $10.38 and a two-hundred day moving average of $9.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.58 and a quick ratio of 0.58.

Green Dot (NYSE:GDOT - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.23. Green Dot had a positive return on equity of 9.94% and a negative net margin of 1.24%. The company had revenue of $501.16 million for the quarter, compared to analysts' expectations of $496.49 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The firm's revenue for the quarter was up 23.9% on a year-over-year basis. As a group, equities research analysts predict that Green Dot Corporation will post 0.87 earnings per share for the current year.

Institutional Investors Weigh In On Green Dot

Institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group grew its stake in shares of Green Dot by 350,400.0% in the first quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider's stock worth $30,000 after acquiring an additional 3,504 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Green Dot by 18.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,478 shares of the financial services provider's stock worth $59,000 after acquiring an additional 861 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Green Dot by 152.0% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock worth $48,000 after acquiring an additional 3,416 shares during the last quarter. CWM LLC grew its stake in shares of Green Dot by 131.8% in the second quarter. CWM LLC now owns 8,664 shares of the financial services provider's stock worth $93,000 after acquiring an additional 4,926 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Green Dot in the second quarter worth $117,000. 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.

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