Morgan Stanley Analysts Give Green Dot Corporation (GDOT) a $60.00 Price Target

Morgan Stanley set a $60.00 target price on Green Dot Corporation (NYSE:GDOT) in a research note issued to investors on Monday. The brokerage currently has a hold rating on the financial services provider’s stock.

GDOT has been the topic of several other research reports. BidaskClub lowered Green Dot Corporation from a strong-buy rating to a buy rating in a research note on Thursday, September 14th. ValuEngine lowered Green Dot Corporation from a buy rating to a hold rating in a research note on Monday, October 2nd. Citigroup Inc. increased their target price on Green Dot Corporation from $48.00 to $54.00 and gave the stock a buy rating in a research note on Monday, September 18th. Lake Street Capital raised Green Dot Corporation from a hold rating to a buy rating and increased their target price for the stock from $41.00 to $44.00 in a research note on Wednesday, August 9th. Finally, William Blair raised Green Dot Corporation from a market perform rating to an outperform rating in a research note on Wednesday, August 9th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Green Dot Corporation currently has an average rating of Buy and a consensus price target of $53.36.

Green Dot Corporation (GDOT) opened at $62.95 on Monday. Green Dot Corporation has a 12 month low of $23.39 and a 12 month high of $65.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $3,224.02, a PE ratio of 37.10 and a beta of 0.91.

Green Dot Corporation (NYSE:GDOT) last posted its earnings results on Tuesday, November 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.14. Green Dot Corporation had a return on equity of 12.55% and a net margin of 8.61%. The firm had revenue of $201.60 million for the quarter, compared to analyst estimates of $191.33 million. During the same quarter in the prior year, the company earned $0.21 EPS. Green Dot Corporation’s revenue was up 30.5% on a year-over-year basis. analysts forecast that Green Dot Corporation will post 1.71 earnings per share for the current year.

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In other news, CEO Steven W. Streit sold 2,665 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $53.91, for a total transaction of $143,670.15. Following the sale, the chief executive officer now owns 176,621 shares of the company’s stock, valued at approximately $9,521,638.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven W. Streit sold 7,995 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $47.70, for a total value of $381,361.50. Following the sale, the insider now directly owns 217,010 shares in the company, valued at approximately $10,351,377. The disclosure for this sale can be found here. Insiders have sold a total of 172,426 shares of company stock worth $9,486,067 in the last three months. Corporate insiders own 11.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. purchased a new position in Green Dot Corporation during the 2nd quarter worth approximately $108,000. IFP Advisors Inc grew its stake in Green Dot Corporation by 5,537.3% during the 2nd quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock worth $111,000 after buying an additional 2,824 shares during the last quarter. Turner Investments LLC purchased a new position in Green Dot Corporation during the 2nd quarter worth approximately $154,000. Riverhead Capital Management LLC grew its stake in Green Dot Corporation by 55.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,429 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in Green Dot Corporation by 13.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,013 shares of the financial services provider’s stock worth $155,000 after buying an additional 472 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

About Green Dot Corporation

Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.

Analyst Recommendations for Green Dot Corporation (NYSE:GDOT)

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