Green Dot (NYSE:GDOT) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

GDOT traded up $1.20 on Friday, hitting $10.05. 619,667 shares of the company traded hands, compared to its average volume of 598,660. The company has a 50 day moving average of $9.48 and a 200-day moving average of $9.14. The stock has a market capitalization of $534.76 million, a PE ratio of -21.38 and a beta of 0.96. Green Dot has a 12-month low of $7.30 and a 12-month high of $16.45.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. 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 research report on Friday, May 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Green Dot currently 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.