Green Dot Corporation (NYSE:GDOT) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts have also weighed in on the company. Cowen and Company restated a “hold” rating on shares of Green Dot Corporation in a research note on Thursday, August 10th. BidaskClub upgraded Green Dot Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Lake Street Capital upgraded Green Dot Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $41.00 to $44.00 in a research note on Wednesday, August 9th. Deutsche Bank AG boosted their price target on Green Dot Corporation from $37.00 to $42.00 and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Finally, William Blair upgraded Green Dot Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Green Dot Corporation has an average rating of “Buy” and a consensus target price of $41.33.

Shares of Green Dot Corporation (NYSE:GDOT) opened at 48.22 on Friday. The company’s 50-day moving average is $43.46 and its 200 day moving average is $36.87. The stock has a market capitalization of $2.43 billion, a P/E ratio of 41.00 and a beta of 1.06. Green Dot Corporation has a 12 month low of $21.45 and a 12 month high of $48.30.

Green Dot Corporation (NYSE:GDOT) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. Green Dot Corporation had a return on equity of 12.13% and a net margin of 7.66%. The company had revenue of $222.50 million for the quarter, compared to analyst estimates of $208.59 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. Equities research analysts predict that Green Dot Corporation will post $2.05 earnings per share for the current year.

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In related news, CFO Mark L. Shifke sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $39.69, for a total value of $198,450.00. Following the sale, the chief financial officer now owns 773,157 shares in the company, valued at $30,686,601.33. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kenneth C. Aldrich sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $48.28, for a total value of $482,800.00. Following the completion of the sale, the director now owns 20,563 shares in the company, valued at approximately $992,781.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,176 shares of company stock worth $5,356,131. 11.00% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Green Dot Corporation by 0.7% in the second quarter. BlackRock Inc. now owns 5,348,171 shares of the financial services provider’s stock worth $206,067,000 after buying an additional 38,814 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Green Dot Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 4,091,807 shares of the financial services provider’s stock worth $136,503,000 after buying an additional 412,984 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Green Dot Corporation by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,753,768 shares of the financial services provider’s stock worth $91,865,000 after buying an additional 19,113 shares in the last quarter. State Street Corp raised its stake in shares of Green Dot Corporation by 5.7% in the second quarter. State Street Corp now owns 1,056,391 shares of the financial services provider’s stock worth $40,704,000 after buying an additional 57,343 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Green Dot Corporation by 57.4% in the second quarter. Renaissance Technologies LLC now owns 821,842 shares of the financial services provider’s stock worth $31,666,000 after buying an additional 299,842 shares in the last quarter. Hedge funds and other institutional investors own 77.56% 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.

Analyst Recommendations for Green Dot Corporation (NYSE:GDOT)

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