Green Dot (NYSE:GDOT) Announces Earnings Results

Green Dot (NYSE:GDOT) released its quarterly earnings data on Thursday. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02, Briefing.com reports. Green Dot had a negative net margin of 1.60% and a positive return on equity of 4.48%. The firm had revenue of $407.10 million for the quarter, compared to the consensus estimate of $381.87 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. Green Dot updated its FY24 guidance to $1.45-$1.59 EPS and its FY 2024 guidance to 1.450-1.450 EPS.

Green Dot Stock Up 13.6 %

Shares of GDOT stock traded up $1.20 on Friday, reaching $10.05. The company’s stock had a trading volume of 619,667 shares, compared to its average volume of 598,660. The company has a market capitalization of $534.76 million, a P/E ratio of -21.38 and a beta of 0.96. The stock’s 50 day simple moving average is $9.48 and its 200-day simple moving average is $9.14. Green Dot has a 12-month low of $7.30 and a 12-month high of $16.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GDOT shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $11.00 price target on shares of Green Dot in a research report on Monday, July 22nd. StockNews.com upgraded Green Dot from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.75.

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.