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

Green Dot (NYSE:GDOT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.450-1.590 for the period, compared to the consensus earnings per share estimate of 1.560. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Green Dot also updated its FY24 guidance to $1.45-$1.59 EPS.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. TheStreet lowered Green Dot from a c- rating to a d rating in a research report on Thursday, February 1st. Truist Financial upped their price objective on shares of Green Dot from $10.00 to $11.00 and gave the company a buy rating in a research note on Thursday, February 29th. StockNews.com downgraded shares of Green Dot from a hold rating to a sell rating in a research note on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods reduced their price objective on Green Dot from $12.50 to $11.00 and set a market perform rating on the stock in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. 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 Price Performance

GDOT traded up $0.69 during trading on Thursday, hitting $9.93. 573,528 shares of the stock traded hands, compared to its average volume of 677,508. The firm has a 50-day moving average of $8.75 and a 200 day moving average of $9.11. Green Dot has a 12-month low of $7.30 and a 12-month high of $21.37. The firm has a market capitalization of $524.60 million, a P/E ratio of 72.08 and a beta of 1.03.

Green Dot (NYSE:GDOT) last posted its earnings results on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $361.72 million for the quarter, compared to analysts’ expectations of $350.14 million. Green Dot had a return on equity of 6.78% and a net margin of 0.45%. As a group, equities analysts predict that Green Dot will post 0.9 EPS for the current fiscal year.

Insider Activity at Green Dot

In related news, insider Principal Co Lp Starboard sold 75,729 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $8.58, for a total value of $649,754.82. Following the completion of the transaction, the insider now directly owns 270,207 shares of the company’s stock, valued at $2,318,376.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Green Dot news, CRO Christian Devin Ruppel purchased 33,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was bought at an average cost of $9.06 per share, with a total value of $298,980.00. Following the transaction, the executive now directly owns 101,715 shares in the company, valued at approximately $921,537.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Principal Co Lp Starboard sold 75,729 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $8.58, for a total transaction of $649,754.82. Following the completion of the sale, the insider now owns 270,207 shares in the company, valued at approximately $2,318,376.06. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.