Green Dot (NYSE:GDOT – Get Free Report) announced its earnings results on Thursday. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02, Briefing.com reports. The company had revenue of $407.10 million during the quarter, compared to the consensus estimate of $381.87 million. Green Dot had a negative net margin of 1.60% and a positive return on equity of 4.48%. The company’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. 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 Performance
GDOT stock traded up $1.20 on Friday, reaching $10.05. The company had a trading volume of 619,667 shares, compared to its average volume of 598,660. Green Dot has a 1 year low of $7.30 and a 1 year high of $16.45. The company has a market cap of $534.76 million, a P/E ratio of -21.38 and a beta of 0.96. The company’s fifty day moving average is $9.48 and its 200 day moving average is $9.14.
Wall Street Analyst Weigh In
Several brokerages have recently commented on GDOT. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $11.00 price objective on shares of Green Dot in a research report on Monday, July 22nd. StockNews.com raised Green Dot from a “sell” rating to a “hold” rating in a report on Friday, May 10th. One research 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 data from MarketBeat, Green Dot has an average rating of “Hold” and an average target price 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.