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 1.450-1.590 for the period, compared to the consensus EPS 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.

Green Dot Stock Performance

NYSE GDOT traded up $0.69 during trading on Thursday, reaching $9.93. The company’s stock had a trading volume of 573,528 shares, compared to its average volume of 677,508. The business’s fifty day moving average price is $8.75 and its 200-day moving average price is $9.11. Green Dot has a twelve month low of $7.30 and a twelve month high of $21.37. The firm has a market cap of $524.60 million, a price-to-earnings ratio of 72.08 and a beta of 1.03.

Green Dot (NYSE:GDOT) last announced its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $361.72 million during the quarter, compared to the consensus estimate of $350.14 million. Green Dot had a net margin of 0.45% and a return on equity of 6.78%. As a group, sell-side analysts forecast that Green Dot will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on GDOT. Keefe, Bruyette & Woods lowered their target price on Green Dot from $12.50 to $11.00 and set a market perform rating on the stock in a report on Friday, April 5th. StockNews.com lowered shares of Green Dot from a hold rating to a sell rating in a research report on Thursday, May 2nd. TheStreet lowered shares of Green Dot from a c- rating to a d rating in a research report on Thursday, February 1st. Finally, Truist Financial boosted their price target on Green Dot from $10.00 to $11.00 and gave the company a buy rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Green Dot presently has a consensus rating of Hold and a consensus price target of $10.75.

Insider Buying and Selling at Green Dot

In related news, insider Principal Co Lp Starboard sold 150,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.17, for a total value of $1,225,500.00. Following the transaction, the insider now owns 276,595 shares in the company, valued at $2,259,781.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Green Dot news, insider Principal Co Lp Starboard sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $8.17, for a total transaction of $1,225,500.00. Following the transaction, the insider now directly owns 276,595 shares in the company, valued at $2,259,781.15. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Christian Devin Ruppel purchased 33,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were bought at an average price of $9.06 per share, with a total value of $298,980.00. Following the purchase, the executive now owns 101,715 shares in the company, valued at approximately $921,537.90. 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.