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

Green Dot (NYSE:GDOT) updated its FY 2024 earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

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

Green Dot Trading Down 16.8 %

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

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $407.10 million during the quarter, compared to analyst estimates of $381.87 million. During the same period last year, the business earned $0.20 EPS. Green Dot’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts predict that Green Dot will post 1 earnings per share for the current year.

Insider Buying and Selling at Green Dot

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

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.