Green Dot Gets a Buy Rating from BTIG

In a report released yesterday, Mark Palmer from BTIG reiterated a Buy rating on Green Dot (NYSE: GDOT), with a price target of $70. The company’s shares closed yesterday at $63.30.

Palmer noted:

“Reignite GDOT Shares Inasmuch as shares of Green Dot Corporation (GDOT) have slumped during the past six weeks – a pause that followed the stock’s surge of more than 150% during 2017 – the company needed to provide investors with a reason to renew their enthusiasm for its story and prospects. GDOT this afternoon after the market close released a 1Q18 report that may have provided that spark as it featured a strong beat-and-raise across each of the metrics that matter to investors.”

According to TipRanks.com, Palmer is a 5-star analyst with an average return of 9.2% and a 59.6% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Assured Guaranty Ltd, and Synchrony Financial.

Green Dot has an analyst consensus of Moderate Buy, with a price target consensus of $70.50.

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Based on Green Dot’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $12.23 million. In comparison, last year the company had a net profit of $40.75 million.

Based on the recent corporate insider activity of 128 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Glinda Bridgforth-Hodges, a Director at GDOT sold 8,952 shares for a total of $583,133.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Green Dot Corp. is a pro-consumer bank holding company and financial technology innovator, which engages in the provision of prepaid cards, debit cards, checking accounts, secured credit cards, payroll debit cards, consumer cash processing services, wage disbursements, and tax refund processing services.