Green Dot Corporation (NYSE:GDOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm presently has a $71.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.22% from the company’s current price.
According to Zacks, “Green Dot Corporation is a technology-centric, pro-consumer Bank Holding Company with a mission to reinvent personal banking for the masses. The company is the largest provider of prepaid debit card products and prepaid card reloading services in the United States, as well as a leader in mobile banking with its GoBank mobile bank account offering. Green Dot Corporation products are available to consumers at more than 80,000 retailers nationwide, online and via the leading app stores. The company is headquartered in Pasadena, California with its bank subsidiary, Green Dot Bank, located in Provo, Utah. “
A number of other analysts also recently issued reports on GDOT. Citigroup Inc. reissued a “buy” rating and set a $46.00 target price (up previously from $40.00) on shares of Green Dot Corporation in a research report on Monday, July 24th. BidaskClub cut Green Dot Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. William Blair upgraded Green Dot Corporation from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 9th. Lake Street Capital upgraded Green Dot Corporation from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $44.00 in a report on Wednesday, August 9th. Finally, Deutsche Bank AG upped their price target on Green Dot Corporation from $37.00 to $42.00 and gave the stock a “hold” rating in a report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $52.85.
Shares of Green Dot Corporation (NYSE:GDOT) opened at $62.16 on Monday. The stock has a market cap of $3,156.97, a P/E ratio of 36.59 and a beta of 0.91. Green Dot Corporation has a 1 year low of $23.00 and a 1 year high of $65.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.09.
Green Dot Corporation (NYSE:GDOT) last posted its earnings results on Tuesday, November 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.14. The firm had revenue of $201.60 million during the quarter, compared to the consensus estimate of $191.33 million. Green Dot Corporation had a net margin of 8.61% and a return on equity of 12.55%. The company’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. analysts expect that Green Dot Corporation will post 1.71 earnings per share for the current year.
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In related news, insider Steven W. Streit sold 7,995 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $61.34, for a total transaction of $490,413.30. Following the transaction, the insider now directly owns 176,621 shares in the company, valued at $10,833,932.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel John C. Ricci sold 20,707 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $47.21, for a total value of $977,577.47. Following the transaction, the general counsel now owns 91,163 shares in the company, valued at $4,303,805.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,540 shares of company stock valued at $7,945,166. Company insiders own 11.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Green Dot Corporation by 0.7% during the second quarter. BlackRock Inc. now owns 5,348,171 shares of the financial services provider’s stock worth $206,067,000 after purchasing an additional 38,814 shares during the last quarter. Bank of America Corp DE lifted its stake in Green Dot Corporation by 113.5% during the first quarter. Bank of America Corp DE now owns 198,987 shares of the financial services provider’s stock worth $6,638,000 after purchasing an additional 105,791 shares during the last quarter. Boston Advisors LLC bought a new position in Green Dot Corporation during the third quarter worth $5,157,000. GSA Capital Partners LLP bought a new position in Green Dot Corporation during the second quarter worth $1,319,000. Finally, Sawgrass Asset Management LLC lifted its stake in Green Dot Corporation by 70.5% during the second quarter. Sawgrass Asset Management LLC now owns 38,340 shares of the financial services provider’s stock worth $1,477,000 after purchasing an additional 15,850 shares during the last quarter. Hedge funds and other institutional investors own 76.91% of the company’s stock.
About Green Dot Corporation
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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