Barclays Forecasts Strong Price Appreciation for Green Dot (NYSE:GDOT) Stock

Green Dot (NYSE:GDOT) had its price target increased by analysts at Barclays from $7.00 to $10.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential downside of 9.74% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on Green Dot from $12.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, February 28th. Craig Hallum raised Green Dot from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Friday, March 14th. Northland Capmk upgraded shares of Green Dot from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. Finally, Northland Securities upgraded shares of Green Dot from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Green Dot Stock Performance

GDOT traded up $0.14 during trading on Monday, reaching $11.08. 391,485 shares of the company were exchanged, compared to its average volume of 625,123. The stock has a market cap of $600.81 million, a P/E ratio of -10.52 and a beta of 0.76. The firm has a 50 day moving average of $7.80 and a 200 day moving average of $9.21. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. Green Dot has a 52 week low of $6.12 and a 52 week high of $13.58.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Topline Capital Management LLC acquired a new position in shares of Green Dot in the 4th quarter valued at about $57,209,000. Vanguard Group Inc. boosted its stake in shares of Green Dot by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,584,651 shares of the financial services provider’s stock valued at $38,141,000 after buying an additional 71,534 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Green Dot by 20.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,114,292 shares of the financial services provider’s stock valued at $22,496,000 after buying an additional 363,831 shares during the period. Geode Capital Management LLC increased its stake in shares of Green Dot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,237,767 shares of the financial services provider’s stock worth $13,173,000 after acquiring an additional 14,771 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Green Dot by 42.5% in the fourth quarter. American Century Companies Inc. now owns 1,041,034 shares of the financial services provider’s stock worth $11,077,000 after acquiring an additional 310,492 shares during the last quarter. 92.56% of the stock is owned by institutional investors and hedge funds.

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.