Green Dot (NYSE:GDOT) PT Set at $35.00 by Northland Securities

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Green Dot (NYSE:GDOT) has been given a $35.00 price target by equities research analysts at Northland Securities in a research note issued on Friday, AnalystRatings.com reports. The firm presently has a “hold” rating on the financial services provider’s stock. Northland Securities’ target price suggests a potential upside of 25.54% from the stock’s previous close.

The analysts wrote, “We believe the GDOT story today is about this new Unlimited product/card and we continue to believe traction will be difficult and the margin on the Unlimited card will be lower. As such, we are establishing 2020 estimates which are less than consensus estimates.””

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Green Dot from a “sell” rating to a “hold” rating and set a $29.00 price objective on the stock in a report on Tuesday, August 13th. Jefferies Financial Group lowered shares of Green Dot from a “buy” rating to a “hold” rating and cut their target price for the company from $62.00 to $32.00 in a research note on Thursday, September 5th. ValuEngine lowered shares of Green Dot from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 8th. Barclays set a $41.00 target price on shares of Green Dot and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Deutsche Bank cut their target price on shares of Green Dot from $44.00 to $29.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $49.69.

GDOT stock traded up $0.87 during trading on Friday, reaching $27.88. The stock had a trading volume of 568,100 shares, compared to its average volume of 791,059. Green Dot has a 1-year low of $24.19 and a 1-year high of $93.00. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.44 billion, a P/E ratio of 11.02 and a beta of 1.10. The firm has a fifty day moving average price of $34.90 and a 200 day moving average price of $49.84.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.33. Green Dot had a net margin of 10.81% and a return on equity of 16.77%. The firm had revenue of $278.33 million for the quarter, compared to analyst estimates of $266.93 million. During the same quarter in the previous year, the business posted $0.74 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Green Dot will post 2.1 EPS for the current year.

In other news, CRO Brett Narlinger sold 5,602 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.32, for a total value of $158,648.64. Following the sale, the executive now owns 71,624 shares in the company, valued at approximately $2,028,391.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.80% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Cutler Group LP bought a new stake in shares of Green Dot during the 2nd quarter valued at about $29,000. Tortoise Index Solutions LLC bought a new stake in shares of Green Dot during the 1st quarter valued at about $43,000. Manchester Capital Management LLC bought a new stake in shares of Green Dot during the 1st quarter valued at about $53,000. Neo Ivy Capital Management bought a new stake in shares of Green Dot during the 2nd quarter valued at about $63,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Green Dot by 38.1% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,346 shares of the financial services provider’s stock valued at $65,000 after buying an additional 371 shares during the last quarter. 89.58% of the stock is owned by institutional investors and hedge funds.

About Green Dot

Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

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Analyst Recommendations for Green Dot (NYSE:GDOT)

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