Green Dot (NYSE:GDOT) Stock, Quote.Headers.trade-ideas

Green Dot

Green Dot Corp is a financial technology company that provides financial services for consumers in the United States without good banking options. It has three segments Consumer Services, Business to Business Services(B2B), and Money Movement Services. The company generates maximum revenue from B2B segment. Its B2B Services segment consists of revenues and expenses derived from (i) its partnerships with prominent consumer and technology companies that make banking products and services available to their consumers, partners and workforce through integration with its banking platform (the "Banking-as-a-Service", or "BaaS channel"), and (ii) a comprehensive payroll platform that it offers to corporate enterprises (the "Employer channel") to facilitate payments for today's workforce.

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Green Dot Corporation (NYSE: GDOT) is currently focusing on long-term growth through prepaid cards, BaaS partnerships, and a strong balance sheet amid some challenges, including a decrease in customers and the end of partnerships in its traditional consumer division and its Banking-as-a-Service (BaaS) sector.

Why You Should Retain Green Dot Stock in Your Portfolio for Now

Earnings Misses

Guidance

Green Dot Corporation (NYSE: GDOT) reported mixed second-quarter 2024 results, with earnings missing the Zacks Consensus Estimate but revenues surpassing the same.

The stock has gained 19.8% since the earnings release on Aug 8 due to the raised revenue guidance.

Green Dot Stock Gains 20% Despite Q2 Earnings Miss

Green Dot Corporation Class A Common Stock, $0.001 par value

Green Dot Corp

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Green Dot shares are trading lower after the company reported worse-than-expected Q3 adjusted EPS results and cut its FY24 adjusted EPS guidance below estimates.

Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) reported quarterly earnings of $0.13 per share which missed the analyst consensus estimate of $0.17 by 23.53 percent. The company reported quarterly sales of $406.019 million which beat the analyst consensus estimate of $392.579 million by 3.42 percent. This is a 16.48 percent increase over sales of $348.571 million the same period last year.

Earnings Beats

Green Dot Q3 2024 Adj. EPS $0.13 Misses $0.17 Estimate, Sales $406.019M Beat $392.579M Estimate

Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) lowers FY2024 Adj EPS guidance from $1.45 to $1.33-1.36 vs $1.46 analyst estimate. Raises FY2024 sales outlook from $1.60 billion-1.70 billion to $1.65 billion-1.70 billion vs $1.67 billion estimate.

Green Dot Lowers FY2024 Adj EPS Guidance from $1.45 to $1.33-1.36 vs $1.46 Est; Raises FY2024 Sales Guidance from $1.60B-1.70B to $1.65B-1.70B vs $1.67B Est

Green Dot Launches Arc, A Comprehensive Embedded Finance Platform Offering End-To-End Banking And Money Movement Solutions; Aims To Drive Business Growth And Engagement With Scalable, Single-Source Services

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One of its most prominent positions right now is a company I am familiar with. Green Dot Corporation is a leading financial technology and bank holding company known for pioneering the prepaid debit card market. The company&#8217;s services cater to the underbanked and unbanked populations in the U.S., offering prepaid debit cards, checking accounts, and money transfer services.
Topline has been adding to its stake in the company.
In the month of September, the fund spent $2.3 million to increase its stake to over 6.1 million shares.
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Green Dot Corp. (Ticker: GDOT)
<figure class="wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex"> 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="660" height="352" data-id="624058" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/31101412/Picture1-4.png" alt="" class="wp-image-624058" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/31101412/Picture1-4.png 660w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/31101412/Picture1-4-300x160.png 300w" sizes="(max-width: 660px) 100vw, 660px" /></figure> 
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The company operates a neobank, GO2bank, and maintains one of the largest retail cash reload networks in the U.S. In addition, it partners with several high-profile companies, such as Apple, Amazon, Uber, and Walmart, providing their customers with tailored banking solutions.
Walmart and Green Dot have a long history of working together to serve the large unbanked populations in the United States.
Green Dot issues the Walmart MoneyCard, which provides users with access to many banking features such as direct deposit, money transfers, and ATM withdrawals.
This card is especially popular among the underbanked, offering an alternative to traditional banking services.
For Green Dot&#8217;s extensive retail cash reload network, Walmart locations act as significant cash reload points. Customers can easily reload their prepaid cards or accounts at any Walmart store.
It is also the provider of many of Walmart&#8217;s financial services kiosks, including many of the financial services offered through Walmart&#8217;s in-store kiosks. These services include bill payment, money transfers, and cash checking.
It is all done on a white-label basis under the Walmart brand with Green Dot, the faceless bank and services provider behind the scenes.
If you use Walmart prepaid cards or any of their financial apps and services, you are a Green Dot customer.
If you use Apple Cash to send money to friends or pesky relatives through Messenger or the Apple Wallet app, you are a Green Dot customer. Green Dot Bank, a subsidiary of Green Dot Corporation, serves as the bank behind the scenes for Apple Cash that facilitates these transactions.
Green Dot&#8217;s role in this partnership involves acting as the financial institution that holds the funds for Apple Cash, enabling users to store and use their money directly from their Apple devices. Users can spend their Apple Cash balances via Apple Pay at retail locations or online and transfer money to their bank accounts.
This collaboration positions Green Dot as a critical enabler of Apple&#8217;s growing suite of financial services, which also includes the Apple Card and Apple Pay. Apple benefits from Green Dot&#8217;s banking infrastructure, which has experience in handling digital banking products for large-scale companies. In turn, this partnership gives Green Dot exposure to millions of Apple users, boosting its brand visibility and reinforcing its position in the digital financial services industry.
Green Dot is also becoming a big player in Earned Wage Access (EWA). Companies use this service to pay workers faster. It can give workers instant access to funds via a debit card.
Amazon uses this service and offers its drivers and contractors the Amazon Flex Debit Card. This card allows drivers to get paid faster through instant access to their earnings via Green Dot&#8217;s systems. Green Dot is the bank behind this service, ensuring that funds can be transferred quickly and securely.
The demand for Earned Wage Access (EWA) solutions is growing, especially in sectors like staffing. Green Dot&#8217;s rapid! PayCard division is well-placed to capture this emerging opportunity.
Green Dot is very well positioned for the future of financial services. It has a bank charter, so it can offer services and access to payment technologies that smaller competitors cannot.
Green Dot has existing relationships with three of the companies that will play a major role in remaking financial services and is well positioned for what will happen in finance and payments.
Consumers and businesses increasingly seek digital banking solutions, pushing companies to embed financial services into their platforms. Green Dot is well-positioned to capitalize on this shift.
When a company&#8217;s largest shareholder keeps buying more shares, it indicates that they have spoken to management, examined the finances, discussed the future with competitors and customers, and feel good about it.
Green Dot could be a leader in the financial services sector of the future, and that would result in a stock price that is several multiples of the current quote
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Tim Melvin – Editor, Benzinga Research 

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Craig-Hallum analyst George Sutton maintains Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) with a Hold and raises the price target from $10 to $11.

Price Target

Craig-Hallum Maintains Hold on Green Dot, Raises Price Target to $11

Barclays analyst Ramsey El-Assal maintains Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) with a Underweight and raises the price target from $7 to $10.

Barclays Maintains Underweight on Green Dot, Raises Price Target to $10

Green Dot Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gdot#NYSE">GDOT</a>) is currently focusing on long-term growth through prepaid cards, BaaS partnerships, and a strong balance sheet amid some challenges, including a decrease in customers and the end of partnerships in its traditional consumer division and its Banking-as-a-Service (BaaS) sector.
<h2>Factors That Bode Well</h2>
Green Dot remains focused on ensuring the&nbsp;long-term growth of its businesses. The company&#39;s efforts are toward the acquisition of long-term users by issuing prepaid cards both under its brand, sold in stores, and through co-branded cards like the Walmart Money Card.
<div class="chart_embed">
<h2>Green Dot Corporation Revenue</h2>
<h2><img alt="greendotcorprevenue.jpg" src="https://www.benzinga.com/files/u1593113/greendotcorprevenue.jpg" style="height:307px; width:636px" /></h2>
Green Dot Corporation revenue-ttm | Green Dot Corporation Quote
In addition to its core offerings like prepaid cards and tax processing services, Green Dot utilizes its technology and FDIC-insured banking license to provide &quot;Banking-as-a-Service.&quot; This essentially involves Green Dot offering white-label banking products to large corporations such as Walmart, Uber, and Apple.
</div>
In return for delivering these financial products, the company gains access to a substantial customer base from these global firms, many of which have large and loyal customer followings. Once these customers adopt banking products powered by Green Dot, the company can generate revenues through interchange fees when customers use their debit cards and by retaining deposits, which generate additional interest income. Green Dot has a unique position among banks offering Banking-as-a-Service.
This uniqueness stems from its asset-light balance sheet, which allows for higher interchange rates and reduces its reliance on interest income as a revenue source. This approach keeps the company&#39;s balance sheet efficient and allows Banking-as-a-Service to remain significant and profitable.
Green Dot has a strong balance sheet with&nbsp;no debt obligations.Cash and equivalents were $1.38 billion as of June 30, 2024. During 2023, the company generated an operating cash flow of $98 million. In the second quarter of 2024, it generated an operating cash flow of $31 million. Since the company carries no debt, the cash is available for investments in growth initiatives and distribution to shareholders.
<h2>Some Risks</h2>
The company is facing some challenges. A decrease in customers, coupled with the&nbsp;end of key partnerships&nbsp;in its traditional consumer division and its Banking-as-a-Service (BaaS) sector, directly affected its revenue streams. As customer numbers dwindle, so does the transactional activity that contributes to GDOT&#39;s income. Additionally, the loss of partnerships, particularly in BaaS, undermines their business model, which depends on collaborating with other firms to offer integrated banking services.
Green Dot has never declared and currently&nbsp;does not have any plan to pay cash dividends&nbsp;on common stock. The Federal Reserve Board&#39;s risk-based and leverage capital requirements and other federal laws restrict the company&#39;s ability to pay cash dividends. Investors seeking cash dividends may avoid buying Green Dot&#39;s shares.
<h2>Zacks Rank and Stocks to Consider</h2>
Green Dot currently carries a Zacks Rank #3 (Hold).
Investors interested in the Zacks&nbsp;Business Services&nbsp;sector may also look at Docusign (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/docu#NASDAQ">DOCU</a>) and AppLovin (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/app#NASDAQ">APP</a>).
Docusign flaunts a Zacks Rank #1 (Strong Buy) at present. It has a long-term earnings growth expectation of 9.3%.
DOCU delivered a trailing four-quarter earnings surprise of 18.3%, on average.
AppLovin sports a Zacks Rank #1 at present. It has a long-term earnings growth expectation of 20%.APP delivered a trailing four-quarter earnings surprise of 21.1%, on average.
<a href="https://www.zacks.com/stock/news/2338736/why-you-should-retain-green-dot-stock-in-your-portfolio-for-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2338736">To read this article on Zacks.com click here.</a>

Green Dot Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gdot#NYSE">GDOT</a>) reported mixed second-quarter 2024 results, with earnings missing the Zacks Consensus Estimate but revenues surpassing the same.
The stock has gained 19.8% since the earnings release on Aug 8 due to the raised revenue guidance.
For 2024, GDOT hiked its guidance for total operating revenues to $1.60-$1.70 billion from the $1.58-$1.62 billion provided at the end of the preceding quarter. The mid-point of the guided range ($1.65 billion) is higher than the Zacks Consensus Estimate of $1.62 billion.
Quarterly earnings per share (excluding 79 cents from non-recurring items) of 25 cents missed the consensus estimate by 10.7% and declined 32.4% from the year-ago quarter. Revenues of $402.6 million beat the Zacks Consensus Estimate by 8.5% and increased 10% on a year-over-year basis.
The company&#39;s shares have gained 20.4% in the past year, outperforming the 18.8% rally of the industry it belongs to.
<h3>Green Dot Corporation Price and EPS Surprise</h3>
<div class="chart_embed"><img alt="Green Dot Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/99/1723637789.png" style="height:263px; width:538px" title="" /></div>
<div class="chart_embed">Green Dot Corporation price-eps-surprise | Green Dot Corporation Quote</div>
<h3>Segmental Revenues</h3>
B2B Services revenues increased 39.5% from the second quarter of 2024 to $252.1 million. Growth in PayCard channels and other vast partnerships are anticipated to have led to a rise in this segment&#39;s revenues.
Money Movement Services&#39; revenues increased 6% from the year-ago quarter to $53 million. Revenues in this segment were driven by the tax processing division, which had a strong tax season.
The Consumer Services segment&#39;s revenues amounted to $96.6 million, down 25.1% on a year-over-year basis. The impacts of continued headwinds in the retail channel on several active accounts on the company&#39;s platform resulted in this segment&#39;s downfall.
Corporate and Other revenues plummeted 35.7% from the year-ago quarter to $917 thousand. The rising interest rate and seasonal declines in bank deposits are expected to have affected this segment&#39;s revenues.
<h3>Key Metrics</h3>
GDOT&#39;s gross dollar volume grew 30% from the year-ago quarter to $32.1 billion. Purchase volume declined 12.6% year over year to $5 billion. The company ended the quarter with 3.4 million active accounts, down 8.8% on a year-over-year basis.
<h3>Operating Results</h3>
Adjusted EBITDA totaled $34 million, declining 13% on a year-over-year basis. The adjusted EBITDA margin plummeted 240 basis points to 8.4%.
<h3>Balance Sheet &amp; Cash Flow</h3>
Green Dot exited the second quarter with unrestricted cash and cash equivalent balance of $1.3 billion compared with $1.1 billion in the first quarter of 2024. GDOT had no long-term debt. It generated $31.5 million of cash from operating activities. Its capital expenditure was $17 million.
<h3>Other Guidance</h3>
For 2024, adjusted earnings per share are anticipated to be $1.45-$1.59. The mid-point ($1.52) is lower than the consensus estimate of $1.54. The adjusted EBITDA is expected to be $170-$180 million.
Green Dot currently carries a Zacks Rank #3 (Hold).
<h3>Earnings Snapshot</h3>
Automatic Data Processing, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adp#NASDAQ">ADP</a>) reported impressive fourth-quarter fiscal 2024 results.
ADP&#39;s earnings per share of $2.1 beat the consensus estimate by 1% and increased 10.6% from the year-ago quarter. Total revenues of $4.8 billion surpassed the consensus estimate by a slight margin and grew 6.5% from the year-ago quarter.
Booz Allen Hamilton Holding Corp.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bah#NYSE">BAH</a>) posted mixed first-quarter fiscal 2025 results.
BAH&#39;s quarterly adjusted earnings per share of $1.4 missed the Zacks Consensus Estimate by 9.2% and decreased 6.1% from the year-ago quarter. The company reported revenues of $2.9 billion, which beat the consensus estimate marginally and increased 10.8% on a year-over-year basis. Revenues, excluding billable expenses, were $2 billion, up 8.4% on a year-over-year basis.
<a href="https://www.zacks.com/stock/news/2322160/green-dot-gdot-stock-gains-20-despite-q2-earnings-miss?cid=CS-BENZ-FT-analyst_blog|earnings_article-2322160">To read this article on Zacks.com click here.</a>

Green Dot Raises FY24 Guidance Range For Adj Operating Revenues From $1.55B - $1.60B To $1.60B - $1.70B, Est $1.641B

Green Dot Says It May Be At The Low End Of FY24 Adj EPS Guidance Range Of $1.45 - $1.59, Est $1.51

Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) reported quarterly earnings of $0.25 per share which beat the analyst consensus estimate of $0.23 by 8.7 percent. This is a 32.43 percent decrease over earnings of $0.37 per share from the same period last year. The company reported quarterly sales of $402.556 million which beat the analyst consensus estimate of $385.877 million by 4.32 percent. This is a 11.47 percent increase over sales of $361.144 million the same period last year.

Green Dot Q2 2024 Adj. EPS $0.25 Beats $0.23 Estimate, Adj. Sales $402.556M Beat $385.877M Estimate

Keefe, Bruyette &amp; Woods analyst Timothy Switzer maintains Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) with a Market Perform and maintains $11 price target.

Keefe, Bruyette & Woods Maintains Market Perform on Green Dot, Maintains $11 Price Target

Fed Fines Green Dot $44 Million Over Marketing And Risk Management

Investors in Green Dot Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gdot#NYSE">GDOT</a>) need to pay close attention to the stock based on moves in the options market lately. That is because the Jul 19, 2024 $17.50 Call had some of the highest implied volatility of all equity options today.
<h3>What is Implied Volatility?</h3>
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
<h3>What do the Analysts Think?</h3>
Clearly, options traders are pricing in a big move for Green Dot shares, but what is the fundamental picture for the company? Currently, Green Dot is a Zacks Rank #3 (Hold) in the Financial Transaction Services&nbsp; industry that ranks in the Top 26 % of our Zacks Industry Rank. Over the last 30 days, no analyst has increased the earnings estimates for the current quarter, while one has dropped the estimates. The net effect has taken our Zacks Consensus Estimate for the current quarter from 30 cents per share to 20 cents in that period.
Given the way analysts feel about Green Dot right now, this huge implied volatility could mean there&#39;s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
<a href="https://www.zacks.com/stock/news/2296501/implied-volatility-surging-for-green-dot-gdot-stock-options?cid=CS-BENZ-FT-tale_of_the_tape|options-2296501">To read this article on Zacks.com click here.</a>

Options

Implied Volatility Surging for Green Dot Stock Options

<div>Green Dot is reaffirming its&nbsp;guidance&nbsp;range for its full year adjusted EBITDA2&nbsp;to be between&nbsp;$170 million&nbsp;and&nbsp;$180 million, or up approximately&nbsp;2%&nbsp;year over year at the mid-point.</div>

Green Dot Reaffirms FY24 Guidance Range For Adj Total Operating Revenues Of $1.55B-$1.60B (Est $1.594B), Adj EPS Of $1.45 - $1.59 (Est $1.56)

Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) reported quarterly earnings of $0.59 per share which missed the analyst consensus estimate of $0.73 by 19.18 percent. This is a 40.4 percent decrease over earnings of $0.99 per share from the same period last year. The company reported quarterly sales of $447.423 million which beat the analyst consensus estimate of $420.694 million by 6.35 percent. This is a 8.50 percent increase over sales of $412.363 million the same period last year.

Green Dot Q1 2024 Adj EPS $0.59 Misses $0.73 Estimate, Sales $447.423M Beat $420.694M Estimate

Keefe, Bruyette &amp; Woods analyst Timothy Switzer maintains Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) with a Market Perform and lowers the price target from $12.5 to $11.

Keefe, Bruyette & Woods Maintains Market Perform on Green Dot, Lowers Price Target to $11

Truist Securities analyst Andrew Quail maintains Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) with a Buy and raises the price target from $10 to $11.

Truist Securities Maintains Buy on Green Dot, Raises Price Target to $11

Keefe, Bruyette &amp; Woods analyst Timothy Switzer maintains Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) with a Market Perform and lowers the price target from $15 to $12.5.

Keefe, Bruyette & Woods Maintains Market Perform on Green Dot, Lowers Price Target to $12.5

Warning: GDOT is at high risk of performing badly

Craig-Hallum analyst George Sutton maintained a Hold rating on Green Dot (GDOT – Research Report) today. The company's shares closed yesterday at $...

Craig-Hallum Reaffirms Their Hold Rating on Green Dot (GDOT)

Barclays analyst Ramsey El Assal assigned a Buy rating to Green Dot (GDOT – Research Report) today and set a price target of $10.00. The company's ...

Barclays Releases a Buy Rating on Green Dot (GDOT)

Green Dot Non-GAAP EPS of $0.13 misses by $0.07, revenue of $409.74M beats by $23.55M

Companies in the Financial sector have received a lot of coverage today as analysts weigh in on Green Dot (GDOT – Research Report) and Hamilton Ins...

Analysts Conflicted on These Financial Names: Green Dot (GDOT) and Hamilton Insurance Group, Ltd. Class B (HG)

Green Dot Corporation (GDOT) Q3 2024 Earnings Call Transcript

Green Dot Corporation 2024 Q3 - Results - Earnings Call Presentation

Green Dot Corp (GDOT) has disclosed a new risk, in the Debt & Financing category. Green Dot Corp's issuance of $50 million in senior unsecured note...

Green Dot Corp Faces Financial Challenges with $50M Senior Notes Issuance in 2024

Green Dot: A Turnaround Play That May Pay Out

Press Releases

Green Dot to Announce Second Quarter 2024 Results on August 8th

PLS Launches Xpectations!® Plus Debit Card, Providing Affordable Banking and Payment Services

Legal

SHAREHOLDER ALERT: Morris Kandinov Investigating GDOT, INNV, TLIS and DRVN; Shareholders are Encouraged to Contact the Firm

Green Dot Reports Second Quarter 2024 Results

Green Dot Corporation Announces Completion of $45 Million Senior Unsecured Notes Offering

Green Dot to Announce Third Quarter 2024 Results on November 7th

Stockpile Pioneers First-Ever Tuition Rewards Program on Financial Learning Platform and Debuts Kids Debit Card as Part of New Family Banking Platform

Green Dot Debuts Embedded Finance Brand and Platform of Services, Arc by Green Dot

Green Dot Reports Third Quarter 2024 Results

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