In a report released today, Andrew Schmitt from Citigroup maintained a Hold rating on Green Dot (GDOT), with a price target of $54.00. The company’s shares closed last Thursday at $55.67, close to its 52-week high of $56.92.
According to TipRanks.com, Schmitt is a 1-star analyst with an average return of -5.7% and a 42.4% success rate. Schmitt covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Bottomline Technologies, and Euronet Worldwide.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Green Dot with a $56.36 average price target, representing a 0.6% upside. In a report issued on August 4, Canaccord Genuity also maintained a Hold rating on the stock with a $56.00 price target.
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Based on Green Dot’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $362 million and net profit of $46.85 million. In comparison, last year the company earned revenue of $341 million and had a net profit of $64.04 million.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GDOT in relation to earlier this year.
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Green Dot Corp. operates as a financial technology leader and bank holding company. It 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. It operates through the following segments: Account Services; and Processing and Settlement Services. The Account Services segment offers deposit account programs that can be acquired through omni-channel distribution platform. The Processing and Settlement Services segment comprises products and services that all specialize in facilitating the movement of funds on behalf of consumers and businesses. The company was founded by Steven W. Streit in October 1, 1999 and is headquartered in Pasadena, CA.
