Barclays Increases Green Dot (NYSE:GDOT) Price Target to $10.00

Green Dot (NYSE:GDOT) had its price target lifted by stock analysts at Barclays from $7.00 to $10.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential downside of 15.25% from the company’s current price.

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $11.00 target price on shares of Green Dot in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.50.

Green Dot Stock Down 5.6 %

Green Dot stock opened at $11.80 on Monday. The company has a fifty day simple moving average of $10.58 and a 200-day simple moving average of $9.74. The firm has a market capitalization of $627.88 million, a price-to-earnings ratio of -25.11 and a beta of 0.91. Green Dot has a 52-week low of $7.30 and a 52-week high of $14.10.

Green Dot (NYSE:GDOT) last issued its earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The company 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 4.01% and a negative net margin of 3.41%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. On average, research analysts anticipate that Green Dot will post 1 EPS for the current fiscal year.

Hedge Funds Weigh In On Green Dot

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. grew its holdings in shares of Green Dot by 7.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 1,430 shares during the period. Quarry LP purchased a new stake in Green Dot during the second quarter worth $32,000. Algert Global LLC grew its holdings in Green Dot by 4.0% in the second quarter. Algert Global LLC now owns 125,524 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 4,774 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Green Dot by 12.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the financial services provider’s stock valued at $200,000 after buying an additional 2,331 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Green Dot during the 2nd quarter worth $232,000. 92.56% of the stock is owned by institutional investors and hedge funds.

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.