Wedbush Expects Green Dot's Impressive Growth to Continue

Wedbush Securities has published a research report on Green Dot

as the company is expected to report growth upwards of 25%. In the report, Wedbush writes, "We believe Green Dot will continue its impressive growth as it leads the rapidly evolving reloadable prepaid category. Green Dot's results are on track for 25%+ long term growth, regulatory risks are under control, and no meaningful new competitor is impacting its markets. We believe the bank acquisition approval by the Fed cements Green Dot as the most important low-end disruptor in consumer financial services. We believe Green Dot can now introduce new products that its competitors cannot. The delay in approvals has held up these product introductions and we now expect new product announcements within the next few months." Wedbush maintains its Outperform rating and $66 price target on Green Dot, which is currently trading up $0.36 from Wednesday's $29.62 closing price.