13.1 C
New York
Wednesday, October 5, 2022

Are the Green Dot Corporation (GDOT) shares in growth territory?

For Green Dot Corporation (GDOT), the past 12 months have seen a 194% gain. Despite the difficult times, the banking industry has generally faced, Green Dot is now continuing to grow through new services, despite the difficulty.

Providing prepaid debit cards, and e-banking portal, and a money transfer platform, Green Dot has expanded to other financial services companies. Besides providing banking services to clients, the company also provides consulting services needed to integrate basic banking into their day-to-day activities. GDOT has clients like Stash, Walmart MoneyCard, and Turbo Tax Intuit.


Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now.

Sponsored


Green Dot’s credit cards and debit cards are available in stores, for example. As part of its Green Dot program, Amazon has introduced a flexible debit card in the fourth quarter.

An exciting new development at Green Dot will be the launch of their GO2bank mobile banking app, which will provide Americans of all incomes and backgrounds with access to simple, low-cost banking services. Based on data from Green Dot, 54% of Americans (about 7 million people) lack access to banking services, which the company will target within the next few years.

In Green Dot’s second division, banks as a service (BaaS) is provided to prominent clients like Apple, Intuit, and Uber Technologies. Despite being large enough, these companies do not want to develop their banks and prefer to rely on Green Dot. The company makes payments for Uber drivers, for instance, one of the services it offers.

Revenue is overgrowing, with a 14 % growth rate in the fourth quarter and a 13 % rise for the whole year. Although some negative factors played a role in the growth last year, such as a decrease in the number of issued credit cards and signature loans and a reduction in banks’ interest rate, Green Dot also increased expenses by 11 %, which were an investment in development.

Approximately 3 % net income growth is expected at Green Dot in 2021. GO2bank and other new services, in particular, will increase the company’s revenue. They are also projected to expand their customer base for their BaaS programs.

Green Dot Corporation (NYSE: GDOT) fell by -2.05% during recent trading, translating to a loss of -$1.05 from Wednesday’s close price. The shares touched $49.67 as their lowest point during the trading session while reaching a high at $51.27. According to data provided by Barchart, GDOT closed the previous session at $51.10, with a trading volume of 0.39 million.

Latest news

Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here