Dave’s (DAVE) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research reissued their outperform rating on shares of Dave (NASDAQ:DAVE) in a research report sent to investors on Thursday morning,Benzinga reports. Barrington Research currently has a $250.00 price objective on the fintech company’s stock.

Several other equities analysts have also recently issued reports on the company. Benchmark cut Dave from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity Group raised their price target on shares of Dave from $130.00 to $179.00 and gave the company a “buy” rating in a report on Friday, May 9th. Wall Street Zen raised shares of Dave from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Lake Street Capital lifted their price objective on Dave from $118.00 to $177.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, JMP Securities raised their target price on Dave from $125.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.33.

Dave Stock Performance

Dave stock opened at $208.24 on Thursday. Dave has a twelve month low of $28.31 and a twelve month high of $243.25. The company has a quick ratio of 6.81, a current ratio of 6.81 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $2.78 billion, a P/E ratio of 66.53 and a beta of 3.93. The stock’s 50 day moving average is $149.33 and its 200 day moving average is $111.91.

Dave (NASDAQ:DAVE) last posted its quarterly earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $1.15. Dave had a return on equity of 17.16% and a net margin of 12.92%. On average, equities research analysts predict that Dave will post 1.07 earnings per share for the current fiscal year.

Dave declared that its board has approved a stock repurchase program on Monday, March 10th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the fintech company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Dave news, Director Yadin Rozov sold 5,500 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $206.94, for a total value of $1,138,170.00. Following the completion of the sale, the director now owns 95,678 shares in the company, valued at approximately $19,799,605.32. This represents a 5.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 28.48% of the company’s stock.

Hedge Funds Weigh In On Dave

An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC purchased a new position in Dave Inc (NASDAQ:DAVE) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,179 shares of the fintech company’s stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned 0.33% of Dave at the end of the most recent reporting period. 18.01% of the stock is currently owned by institutional investors.

About Dave

Dave, Inc is a digital banking service. Its products include a budgeting tool to help members manage their upcoming bills to avoid overspending, cash advances through its flagship ExtraCash product to help members avoid punitive overdraft fees, a Side Hustle product, where Dave helps connect members with supplemental work opportunities, and Dave Banking, a modern checking account experience with valuable tools for building long-term financial health.