Barclays Raises Green Dot (NYSE:GDOT) Price Target to $10.00

Green Dot (NYSE:GDOT) had its target price raised by Barclays from $7.00 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Barclays‘s price target points to a potential downside of 4.31% from the company’s previous close.

Several other research firms have also issued reports on GDOT. Northland Securities raised shares of Green Dot from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Wednesday, April 9th. Craig Hallum raised shares of Green Dot from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Friday, March 14th. Keefe, Bruyette & Woods dropped their price target on shares of Green Dot from $12.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, February 28th. Finally, Northland Capmk raised shares of Green Dot from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

Green Dot Stock Down 3.1%

Shares of GDOT opened at $10.45 on Monday. The company has a 50-day simple moving average of $7.94 and a 200-day simple moving average of $9.21. The firm has a market capitalization of $566.70 million, a P/E ratio of -9.95 and a beta of 0.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 0.52. Green Dot has a 52 week low of $6.12 and a 52 week high of $13.58.

Green Dot (NYSE:GDOT) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.36. Green Dot had a negative net margin of 3.39% and a positive return on equity of 3.84%. The business had revenue of $555.96 million during the quarter, compared to analyst estimates of $503.20 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, equities research analysts expect that Green Dot will post 0.87 earnings per share for the current year.

Insiders Place Their Bets

In other Green Dot news, insider Christian Devin Ruppel sold 10,189 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $11.00, for a total transaction of $112,079.00. Following the sale, the insider now directly owns 253,139 shares of the company’s stock, valued at approximately $2,784,529. This represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Institutional Trading of Green Dot

Several large investors have recently added to or reduced their stakes in GDOT. Brooklyn Investment Group grew its stake in shares of Green Dot by 350,400.0% during the first quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 3,504 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Green Dot during the fourth quarter worth $44,000. GAMMA Investing LLC boosted its position in shares of Green Dot by 152.0% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 3,416 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Green Dot during the fourth quarter worth $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Green Dot during the first quarter worth $96,000. 92.56% of the stock is owned by 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.