Green Dot (NYSE:GDOT) Issues FY 2024 Earnings Guidance

Green Dot (NYSE:GDOT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.330-1.360 for the period, compared to the consensus EPS estimate of 1.460. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion.

Green Dot Trading Down 16.8 %

GDOT traded down $2.20 on Friday, reaching $10.90. The stock had a trading volume of 1,120,492 shares, compared to its average volume of 333,251. Green Dot has a 12-month low of $7.30 and a 12-month high of $13.58. The business’s 50-day moving average price is $11.53 and its two-hundred day moving average price is $10.38. The company has a market cap of $585.44 million, a P/E ratio of -10.69 and a beta of 0.91.

Green Dot (NYSE:GDOT) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The business had revenue of $407.10 million for the quarter, compared to analyst estimates of $381.87 million. During the same quarter last year, the business earned $0.20 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, analysts predict that Green Dot will post 1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on GDOT. Barclays boosted their price target on shares of Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $11.00 price target on shares of Green Dot in a research report on Monday, July 22nd. Finally, Craig Hallum upped their price objective on Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.75.

Insider Transactions at Green Dot

In other Green Dot news, major shareholder Topline Capital Partners, Lp bought 162,243 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average price of $11.87 per share, with a total value of $1,925,824.41. Following the completion of the acquisition, the insider now directly owns 6,157,665 shares of the company’s stock, valued at $73,091,483.55. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Green Dot news, insider Topline Capital Management, Ll bought 36,671 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $12.49 per share, with a total value of $458,020.79. Following the completion of the acquisition, the insider now directly owns 5,995,422 shares of the company’s stock, valued at $74,882,820.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Topline Capital Partners, Lp bought 162,243 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average cost of $11.87 per share, for a total transaction of $1,925,824.41. Following the acquisition, the insider now directly owns 6,157,665 shares of the company’s stock, valued at $73,091,483.55. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

About Green Dot

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.