Dave (NASDAQ:DAVE) Upgraded to “Buy” at Freedom Broker

Dave (NASDAQ:DAVE) was upgraded by research analysts at Freedom Broker from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage presently has a $350.00 target price on the fintech company’s stock. Freedom Broker‘s price target indicates a potential upside of 30.90% from the company’s current price.

Several other research analysts have also commented on the stock. Royal Bank Of Canada set a $380.00 price objective on shares of Dave in a research note on Friday, November 6th. Piper Sandler started coverage on shares of Dave in a report on Monday, August 17th. They issued an “overweight” rating and a $390.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Dave from $480.00 to $435.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. Wall Street Zen upgraded Dave from a “sell” rating to a “hold” rating in a report on Sunday, November 8th. Finally, Citizens Jmp raised their price objective on Dave from $450.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Dave has an average rating of “Moderate Buy” and an average price target of $420.29.

Dave Stock Performance

Shares of DAVE stock opened at $267.37 on Friday. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 26.96 and a beta of 4.07. The company’s 50 day moving average is $341.04 and its 200 day moving average is $290.98. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.71. Dave has a 52-week low of $152.21 and a 52-week high of $458.25.

Dave (NASDAQ:DAVE) last posted its earnings results on Wednesday, November 4th. The fintech company reported $4.39 earnings per share for the quarter, topping analysts’ consensus estimates of $4.09 by $0.30. The company had revenue of $197.70 million during the quarter, compared to analyst estimates of $191.89 million. Dave had a return on equity of 59.86% and a net margin of 28.15%. On average, sell-side analysts anticipate that Dave will post 13.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Dave

Several hedge funds and other institutional investors have recently modified their holdings of DAVE. GK Wealth Management LLC acquired a new stake in Dave in the 3rd quarter worth approximately $34,000. Signaturefd LLC grew its position in Dave by 119.2% during the 3rd quarter. Signaturefd LLC now owns 114 shares of the fintech company’s stock worth $37,000 after purchasing an additional 62 shares during the last quarter. Allworth Financial LP increased its stake in Dave by 25.4% during the 2nd quarter. Allworth Financial LP now owns 143 shares of the fintech company’s stock valued at $53,000 after purchasing an additional 29 shares in the last quarter. GAMMA Investing LLC increased its stake in Dave by 43.9% during the 2nd quarter. GAMMA Investing LLC now owns 223 shares of the fintech company’s stock valued at $83,000 after purchasing an additional 68 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in Dave by 841.7% during the 3rd quarter. Sterling Capital Management LLC now owns 339 shares of the fintech company’s stock valued at $109,000 after purchasing an additional 303 shares in the last quarter. 18.01% of the stock is owned by hedge funds and other institutional investors.

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.