Green Dot (NYSE:GDOT – Get Rating) released its quarterly earnings results on Thursday. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.22, Briefing.com reports. Green Dot had a return on equity of 9.70% and a net margin of 3.52%. The company had revenue of $362.80 million for the quarter, compared to analyst estimates of $362.08 million. During the same quarter in the prior year, the firm posted $0.56 EPS. Green Dot’s quarterly revenue was down 1.8% compared to the same quarter last year. Green Dot updated its FY 2022 guidance to $2.35-$2.49 EPS and its FY22 guidance to $2.35-2.49 EPS.
Green Dot Price Performance
NYSE GDOT traded down $3.78 during trading on Friday, hitting $24.52. The company’s stock had a trading volume of 1,492,900 shares, compared to its average volume of 351,538. The company has a market cap of $1.33 billion, a PE ratio of 26.95 and a beta of 0.95. The business’s 50 day simple moving average is $26.33 and its 200-day simple moving average is $27.75. Green Dot has a fifty-two week low of $22.27 and a fifty-two week high of $54.90.
Insiders Place Their Bets
In other news, Director Rajeev V. Date sold 6,214 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $29.20, for a total value of $181,448.80. Following the completion of the transaction, the director now directly owns 19,440 shares in the company, valued at $567,648. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 7,714 shares of company stock valued at $220,024. 2.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Separately, Needham & Company LLC cut their price target on Green Dot from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.
About Green Dot
Green Dot Corporation, a financial technology and bank holding company, provides various financial products 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 offers deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.
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