Analysts Set Green Dot Corporation (NYSE:GDOT) Target Price at $34.91
Shares of Green Dot Corporation (NYSE:GDOT) have earned an average rating of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $34.00.
Several research firms recently issued reports on GDOT. Citigroup Inc. lifted their price target on shares of Green Dot Corporation from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, April 4th. Zacks Investment Research downgraded shares of Green Dot Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of Green Dot Corporation in a research note on Monday, May 22nd. Lake Street Capital began coverage on shares of Green Dot Corporation in a research note on Monday, June 26th. They set a “hold” rating and a $41.00 price target on the stock. Finally, Keefe, Bruyette & Woods set a $37.00 price target on shares of Green Dot Corporation and gave the stock a “hold” rating in a research note on Thursday, July 6th.
Green Dot Corporation (GDOT) traded down 0.72% during mid-day trading on Friday, hitting $39.72. The stock had a trading volume of 318,395 shares. Green Dot Corporation has a one year low of $21.45 and a one year high of $40.19. The company has a 50 day moving average price of $37.81 and a 200-day moving average price of $31.38. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 40.82 and a beta of 1.03.
Green Dot Corporation (NYSE:GDOT) last issued its earnings results on Tuesday, May 9th. The financial services provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.14. Green Dot Corporation had a net margin of 6.65% and a return on equity of 10.11%. The business had revenue of $253 million for the quarter, compared to the consensus estimate of $233.49 million. During the same quarter last year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts expect that Green Dot Corporation will post $1.95 earnings per share for the current fiscal year.
In other news, Director Kenneth C. Aldrich sold 6,854 shares of Green Dot Corporation stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $40.01, for a total value of $274,228.54. Following the completion of the transaction, the director now directly owns 20,142 shares of the company’s stock, valued at approximately $805,881.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel John C. Ricci sold 3,686 shares of Green Dot Corporation stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $35.97, for a total transaction of $132,585.42. Following the completion of the transaction, the general counsel now directly owns 90,032 shares of the company’s stock, valued at $3,238,451.04. The disclosure for this sale can be found here. Insiders sold a total of 215,839 shares of company stock valued at $7,881,406 in the last three months. Insiders own 11.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new position in Green Dot Corporation during the first quarter valued at approximately $118,000. Asset Management One Co. Ltd. acquired a new position in Green Dot Corporation during the first quarter valued at approximately $162,000. State of Alaska Department of Revenue raised its position in Green Dot Corporation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 4,920 shares of the financial services provider’s stock valued at $164,000 after buying an additional 130 shares during the period. Ronald Blue & Co. LLC acquired a new position in Green Dot Corporation during the first quarter valued at approximately $215,000. Finally, Suntrust Banks Inc. acquired a new position in Green Dot Corporation during the first quarter valued at approximately $238,000. 80.01% of the stock is owned by institutional investors and hedge funds.
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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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