Dave (NASDAQ:DAVE) Stock Rating Upgraded by Zacks Research

Dave (NASDAQ:DAVE) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently commented on DAVE. B. Riley restated a “buy” rating and issued a $297.00 target price (up previously from $277.00) on shares of Dave in a research note on Wednesday, November 5th. Benchmark lifted their price objective on shares of Dave from $320.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Citizens Jmp boosted their price objective on shares of Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 5th. Citigroup reaffirmed an “outperform” rating on shares of Dave in a research report on Wednesday, November 5th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $308.00 price target on shares of Dave in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $304.25.

Dave Trading Down 0.2%

Shares of NASDAQ:DAVE opened at $190.12 on Tuesday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 18.84 and a beta of 3.89. Dave has a 12 month low of $65.46 and a 12 month high of $286.45. The company’s fifty day simple moving average is $221.39 and its 200 day simple moving average is $212.89. The company has a quick ratio of 8.69, a current ratio of 8.69 and a debt-to-equity ratio of 0.26.

Dave (NASDAQ:DAVE) last released its earnings results on Tuesday, November 4th. The fintech company reported $4.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $1.95. Dave had a return on equity of 65.86% and a net margin of 29.85%.The firm had revenue of $150.73 million during the quarter, compared to analysts’ expectations of $153.09 million. Dave has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Dave will post 1.07 EPS for the current fiscal year.

Dave declared that its board has authorized a stock repurchase program on Wednesday, August 13th that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the fintech company to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Dave

In related news, CEO Jason Wilk sold 81,693 shares of Dave stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $230.28, for a total transaction of $18,812,264.04. Following the completion of the transaction, the chief executive officer owned 217,854 shares in the company, valued at approximately $50,167,419.12. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yadin Rozov sold 4,726 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $228.06, for a total value of $1,077,811.56. Following the completion of the sale, the director owned 75,197 shares in the company, valued at $17,149,427.82. This represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 226,943 shares of company stock worth $50,301,987. Insiders own 28.48% of the company’s stock.

Institutional Investors Weigh In On Dave

A number of large investors have recently added to or reduced their stakes in DAVE. Divisadero Street Capital Management LP boosted its position in Dave by 73.1% during the third quarter. Divisadero Street Capital Management LP now owns 925,266 shares of the fintech company’s stock worth $184,452,000 after purchasing an additional 390,676 shares during the period. Vanguard Group Inc. lifted its stake in shares of Dave by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 655,293 shares of the fintech company’s stock worth $130,633,000 after buying an additional 59,774 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Dave by 17.1% during the 3rd quarter. American Century Companies Inc. now owns 229,693 shares of the fintech company’s stock worth $45,790,000 after buying an additional 33,492 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Dave by 819.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company’s stock worth $41,666,000 after buying an additional 186,273 shares during the period. Finally, Geode Capital Management LLC grew its stake in Dave by 14.6% in the 2nd quarter. Geode Capital Management LLC now owns 207,773 shares of the fintech company’s stock valued at $55,774,000 after buying an additional 26,515 shares during the last quarter. Institutional investors own 18.01% of the company’s stock.

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.