Nomura Securities Maintains a 'Neutral' on Green Dot (GDOT); Q1 Review

Nomura Securities maintains a 'Neutral' on Green Dot (NYSE: GDOT) price target of $29.00.

Analyst, Bill Carcache, said, "Green Dot reported 1Q12 adjusted EPS of $0.48, versus our (and consensus) estimate of $0.45. The beat was primarily due to higher-than-expected operating revenues, driven by strong cash transfer and card revenue growth. However, earnings visibility into 2013 and beyond remains unclear given the various changes at play. Much of the conference call was dominated by discussion around the Loopt acquisition as the investment community grapples with the ultimate value proposition of the assets. Our 2012E/2013E EPS is $1.70/$2.06 vs. Street at $1.79/$2.26."

For an analyst ratings summary and ratings history on Green Dot click here. For more ratings news on Green Dot click here.

Shares of Green Dot closed at $26.42 yesterday.

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