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Green Dot Corporation (0J0N.L)
LSE - LSE Delayed price. Currency in USD
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Down graded to sell...
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lawsuit settled, now buyout happens.. stock trading below cash on hand..
In about 2018 this co rocketed higher. Was a favorite with IBD. With rising interest rates, they are a place to be, in a stock market with limited options.
The likes of Uber using Green Dot for BaaS was a real eye opener. Then Apple using Green Dot was a big game changer. So GDOT realizing that is where a huge chunk of their future growth is going to come from... required that they make some big investments to make sure that they continue to dominate the BaaS market. So in analyzing this... GDOT looks like a pretty great buy at these prices. I, for one, held on to all my shares and their latest guidance didn't scare me at all. If anything... they're wanting to set the foundation for the future... makes me a lot more bullish on GDOT than I was before.
Despite being a holder and supporter, I still know a bargain when I see one. There's absolutely NO justification for this kind of drop, especially after their recent report. A few truths, per Yahoo: Ave. Price Target = $92, Recommendation Rating = 1.9 (Buy+), Forward PE = only 14, PEG = only .97, Total Debt/Equity = a very low 6.64 (almost debt-free), superior top & bottom line double-digit growth, card-user growth from 30 million customers in 2016 to over 50 million in 2018, (representing 15% of the entire US population!), $150 million planned share buyback (in addition to recent $150 share buyback!), and confident guidance of 10-15% growth for 2019...this is on top of an extraordinary 2018 year! As I type this, GDOT is now $60.34, equaling a pps not seen since April of next year. Since then, it's justifiably reached the $90s. On Dec. 24, it joined all other stocks and plunged to $70. Three weeks later, it had recovered to $83. On the third week of February while at $74, it reported superior quarterly and yearly growth and optimistic guidance for 2019 with exciting new programs to take place. In the two weeks since then, it has dropped 19%, despite that great report and all the above excellent financials I have previously mentioned. Like I said, I know a bargain when I see one. My ave. is now at $68 and I will NOT sell my shares! It justifiably deserves to be back into the $80s...and at least in the mid-$70s if one examines the midpoint of the last 12 months of its share price. Want another hint? Take a look at the five year chart. I've seen this happen before with excellent companies...the trick is to not sell and while bargain-priced, to buy it hand over fist. I correctly called this very similar scenario with HQY...and indeed it found its undeserved bottom, then soared back to where it was supposed to be. This is the same thing. Buy it NOW. You'll thank me later.
GDOT green on 1200 point down day...very odd.
Report was good. GDOT getting swamped by interest in their BaaS efforts, so spending an extra $60m (on hand, not borrowed) to get $200m - $300m in lifetime customer revenue. Will still have very high cash flow and cash flow margins. The optics look bad but if you understand that this would normally be capital expenditures (and not hit the income statement) you understand what's going on. They need to spend right now, so expenses will hit the income statement this year, instead of being capitalized and amortized in future years. This is what's known as a high class problem: too much demand for their new banking products and services.
Just sold all my shares. I'm about to close on a house in 11 days... and unfortunately all I see is more downside risk in how management has guided this ship. I should have trusted my gut when I saw that about a year ago... all the online reviews for their customer service were extremely negative. In this day and online world... you have to always protect your company's reputation... and Green Dot appeared to either not know or seemed to not care. I think they were they were thinking that they had most of this subprime / non banked world to themselves. But now other competitors are coming in to take market share from their bread and butter business. So if you're Apple or Walmart... how much are you going to be trusting the current management with your Baas business? Bottom line... I've already lost too much money with this company... and with buying a house in another 11 days... I don't trust current management to leave whatever money I had left in there... to leave it in for an hour more. The Baas strategy really did seem like a winner. I thought they were making all the right moves by spending money to beef up that part of their operations. But it seems like missteps by management and complacent attitude by them... is what's really getting in there way at this point. Good luck to the longs. Just with buying a house... I can't risk any more time and money with this company.
"readjusting our expectations for the remainder of this year", ouch.
$50 incoming. The market over-reacted by a huge margin. Value stock of the year.
Interesting. Beat all expectations, solid guidance looking forward and an extremely upbeat tone by management. This temporary, misplaced sell-off has just created a wonderful opportunity for both a fast gain and longer term profits.
Walmart contract 7 years .....37% of Green Dot business 😀😀😀
Congrats! Dan Henry is a stud. Been following him for years over at $PAYS. Might want to buy up some $PAYS too. GL.
K B B
I thought of selling and cutting my losses until I saw the commercial in NBC. I'll wait this one out for 2 years, definitely averaging down if they show improvement on the next earnings report.
Wonder why the CEO sold shares for almost 21 million dollars?
Bottom line: Besides handily beating expectations last quarter, they are transitioning into a much bigger and more diversified company. They’re experiencing some growing issues, but they will get there. In the meantime, they’re still making a lot of money and have no debt. Look at the bigger picture, set realistic expectations and have some patience. 6-12 months from now, you’ll wish you had not sold or hadn’t bought shares at these incredibly oversold prices. GLTA.
no moat, everyone and their aunt minnie has come out with similar cards.
“We expect the incremental $60 million investment could deliver over one million incremental active accounts at the exit of 2019, which, at that number of incremental active accounts, would be expected to deliver incremental lifetime revenue of approximately $200 million to $300 million, at an approximate average contribution margin of 50%.” Huge! Selling now would be foolish.
Makes no sense to me. Stock was already down 20% YTD prior to announcing the income beat and very slight revenue miss. Majority of analysts have a buy or strong buy rating. Now the market is saying the company is only worth 50% of what it was 4 months ago? Doesn't make sense to me. I understand a stock that is up 50% on the year and missing the target and dropping back down to a reasonable level, but a stock that is already down 20% getting hit like this makes no sense. People at the big investment firms need to go back and take a look at their trading programs to find out what the bug in their program is.
My first boss: Juliet Barratt, co-founder of sports nutrition brand Grenade
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