Barrington Research Increases Dave (NASDAQ:DAVE) Price Target to $310.00

Key Points

• Barrington Research raised its price target on Dave to $310 from $290 and kept an outperform rating, implying about 9.6% upside from the current share price.
• Other analysts have also turned more positive on the fintech stock, with multiple firms lifting targets and maintaining buy-like ratings; the consensus view remains Buy with an average target price of $325.40.
• Dave recently beat quarterly earnings expectations, reporting $3.64 EPS versus the $2.86 estimate and revenue of $158.41 million, while the stock traded down 0.9% on Friday to $282.79.

Dave (NASDAQ:DAVE - Get Free Report) had its price target upped by investment analysts at Barrington Research from $290.00 to $310.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the fintech company's stock. Barrington Research's target price would indicate a potential upside of 9.62% from the company's current price.

Several other analysts have also recently issued reports on DAVE. Citizens Jmp upped their price target on shares of Dave from $335.00 to $365.00 and gave the company a "market outperform" rating in a report on Wednesday, May 6th. B. Riley Financial upped their price target on shares of Dave from $358.00 to $370.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Wall Street Zen cut shares of Dave from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Citigroup reaffirmed an "outperform" rating on shares of Dave in a report on Wednesday, May 6th. Finally, Benchmark reaffirmed a "buy" rating on shares of Dave in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $325.40.

Dave Stock Down 0.9%

DAVE traded down $2.64 during trading on Friday, hitting $282.79. The company had a trading volume of 362,138 shares, compared to its average volume of 577,656. The company has a market cap of $3.59 billion, a PE ratio of 18.31 and a beta of 3.87. The business has a 50-day moving average of $242.12 and a 200-day moving average of $214.29. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.86 and a quick ratio of 3.86. Dave has a 1-year low of $152.21 and a 1-year high of $301.19.

Dave (NASDAQ:DAVE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.78. The firm had revenue of $158.41 million for the quarter, compared to analysts' expectations of $153.67 million. Dave had a net margin of 37.22% and a return on equity of 77.70%. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, analysts forecast that Dave will post 14.7 earnings per share for the current year.

Dave announced that its board has authorized a stock repurchase plan on Monday, March 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the fintech company to reacquire up to 11.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Dave

In other news, CEO Jason Wilk sold 8,474 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the completion of the transaction, the chief executive officer owned 299,950 shares in the company, valued at approximately $82,501,247.50. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dan Preston sold 275 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the transaction, the director owned 5,466 shares of the company's stock, valued at $1,353,654.90. This represents a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 28.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Dave

Several institutional investors have recently modified their holdings of DAVE. SG Americas Securities LLC lifted its holdings in Dave by 2,267.1% in the fourth quarter. SG Americas Securities LLC now owns 88,552 shares of the fintech company's stock worth $19,606,000 after purchasing an additional 84,811 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Dave in the third quarter worth about $1,826,000. Pictet Asset Management Holding SA lifted its holdings in Dave by 372.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,841 shares of the fintech company's stock worth $1,293,000 after purchasing an additional 4,604 shares during the period. Neuberger Berman Group LLC acquired a new stake in Dave in the third quarter worth about $26,726,000. Finally, Azora Capital LP lifted its holdings in Dave by 87.9% in the third quarter. Azora Capital LP now owns 133,242 shares of the fintech company's stock worth $26,562,000 after purchasing an additional 62,318 shares during the period. Institutional investors own 18.01% of the company's stock.

Dave Company Profile

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave's offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.