5 Solid Reasons to Invest in Green Dot (GDOT) Stock Now
A wise investment decision involves buying well-performing stocks at the right time and selling those that are at risk. A rise in share price and strong fundamentals indicate a stock’s bullish run.
Green Dot Corporation GDOT has performed extremely well year to date and has potential to sustain the momentum going forward. Therefore, if you have not taken advantage of the share price appreciation yet, it’s time you add the stock to your portfolio.
What Makes Green Dot an Attractive Pick?
An Outperformer
A glimpse at the company’s price trend reveals that the stock has had an impressive run on the bourse year to date. Shares of Green Dot have gained 65.3%, outperforming the 3.1 % rise of the industry it belongs to.
Solid Zacks Rank
Green Dot carries a Zacks Rank #2 (Buy). Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or #2 offer attractive investment opportunities. You can see the complete list of today’s Zacks #1 Rank stocks here.
Northward Estimate Revisions
Four estimates for 2020 moved north in the past 60 days versus two downward revision, reflecting analysts’ confidence in the company. Over the same period, the Zacks Consensus Estimate for fiscal 2020 inched up 7.7%.
Positive Earnings Surprise History
Green Dot has an impressive earnings surprise history. The company outpaced the consensus mark in all of the trailing four quarters, delivering a positive earnings surprise of 247.6% on average.
Growth Factors
Both top and bottom lines are benefiting from a modern and scalable technology platform, millions of customers and more than 100,000 points of retail distribution with a strong cash deposit network.
The company’s Banking as a Service (“BaaS”) platform programs are contributing significantly to gross dollar volume and revenue growth. A robust BaaS platform-based partner business has helped it secure multi-year agreements with some of the world’s largest companies such as Apple AAPL, Walmart WMT, Intuit INTU and Uber.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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