Dave (NASDAQ:DAVE) Raised to “Strong-Buy” at Freedom Capital

Dave (NASDAQ:DAVE) was upgraded by investment analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday, Zacks reports.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dave in a research report on Friday, November 6th. JPMorgan Chase & Co. decreased their price objective on shares of Dave from $480.00 to $435.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. Canaccord Genuity Group lifted their price objective on shares of Dave from $342.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup reiterated an “outperform” rating on shares of Dave in a research note on Thursday, August 6th. Finally, Citizens Jmp lifted their price target on shares of Dave from $450.00 to $475.00 and gave the company a “market outperform” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $420.29.

Dave Stock Up 3.6%

Dave stock traded up $9.67 during midday trading on Friday, hitting $277.04. The stock had a trading volume of 281,770 shares, compared to its average volume of 396,899. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.54 billion, a P/E ratio of 22.38 and a beta of 4.07. Dave has a 12 month low of $152.21 and a 12 month high of $458.25. The business has a fifty day moving average price of $338.77 and a 200 day moving average price of $291.48.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data on Wednesday, November 4th. The fintech company reported $4.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $0.30. Dave had a return on equity of 59.86% and a net margin of 28.15%. The firm had revenue of $197.70 million for the quarter, compared to analysts’ expectations of $191.89 million. Research analysts predict that Dave will post 13.37 EPS for the current year.

Institutional Investors Weigh In On Dave

Several large investors have recently added to or reduced their stakes in DAVE. SBI Securities Co. Ltd. raised its holdings in Dave by 1.5% during the third quarter. SBI Securities Co. Ltd. now owns 1,812 shares of the fintech company’s stock worth $583,000 after purchasing an additional 27 shares in the last quarter. Allworth Financial LP lifted its position in Dave by 25.4% in the second quarter. Allworth Financial LP now owns 143 shares of the fintech company’s stock worth $53,000 after purchasing an additional 29 shares during the period. Intech Investment Management LLC lifted its position in Dave by 1.5% in the third quarter. Intech Investment Management LLC now owns 2,694 shares of the fintech company’s stock worth $866,000 after purchasing an additional 39 shares during the period. Nisa Investment Advisors LLC boosted its stake in Dave by 12.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 412 shares of the fintech company’s stock valued at $132,000 after purchasing an additional 46 shares in the last quarter. Finally, Gryphon Financial Partners LLC boosted its stake in Dave by 4.3% during the 3rd quarter. Gryphon Financial Partners LLC now owns 1,315 shares of the fintech company’s stock valued at $423,000 after purchasing an additional 54 shares in the last quarter. 18.01% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Dave

Here are a few of the latest headlines about DAVE:

• Positive Sentiment: Freedom Broker upgraded Dave from “hold” to “buy” and set a $350 price target, about 26% above the cited share price. The upgrade may support investor optimism. Freedom Broker stock recommendations
• Negative Sentiment: Lowey Dannenberg said it is investigating Dave for potential violations of federal securities laws. The announcement could weigh on sentiment, but it is an investigation—not a finding of wrongdoing or a filed lawsuit. Investigation announcement

About Dave

Dave Inc. is a financial technology company that operates a mobile banking and personal finance platform in the United States. Its app is designed to help members manage everyday finances and access financial products through a digital interface. The company’s offerings include ExtraCash, a cash advance product, and Dave Checking, along with budgeting features and tools intended to help users monitor spending and avoid overdrafts. Dave also provides access to job opportunities through its Side Hustle feature.