Green Dot Shares Up 10.8% Following Strong Earnings (GDOT)
Green Dot (NASDAQ:GDOT) shares shot up 10.8% during mid-day trading on Friday after the company announced better than expected quarterly earnings, AR Network reports. The company traded as high as $20.19 and last traded at $19.94, with a volume of 1,119,675 shares. The stock had previously closed at $17.99.
The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.16. The company had revenue of $147.01 million for the quarter, compared to the consensus estimate of $154.16 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis.
A number of research firms have recently commented on GDOT. Analysts at Portales Partners downgraded shares of Green Dot from a “sector perform” rating to an “underperform” rating in a research note on Thursday, July 24th. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Green Dot from $23.00 to $21.00 in a research note on Thursday, July 10th. Finally, analysts at Citigroup Inc. upgraded shares of Green Dot from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, May 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $22.81.
The stock’s 50-day moving average is $18.42 and its 200-day moving average is $19.67. The company has a market cap of $785.0 million and a P/E ratio of 24.15.
Green Dot Corporation (NASDAQ:GDOT) is a bank holding company.
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