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Barrington Research Reiterates Outperform Rating for Dave (NASDAQ:DAVE)

Dave logo with Business Services background

Key Points

  • Barrington Research has reaffirmed an outperform rating for Dave (NASDAQ:DAVE) with a target price of $290, indicating a potential upside of 24.61% from its current price.
  • The stock has a consensus rating of "Moderate Buy" among analysts, with nine analysts issuing buy ratings and an average target price of $250.50.
  • Recent insider trading activity includes Director Yadin Rozov selling 5,500 shares and CEO Jason Wilk selling 172,667 shares, collectively amounting to significant decreases in their shareholdings.
  • Five stocks we like better than Dave.

Dave (NASDAQ:DAVE - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Barrington Research in a research note issued to investors on Monday,Benzinga reports. They presently have a $290.00 target price on the fintech company's stock. Barrington Research's price objective would suggest a potential upside of 24.61% from the company's current price.

Several other equities research analysts have also commented on DAVE. BMO Capital Markets reissued an "outperform" rating on shares of Dave in a report on Tuesday, June 10th. Piper Sandler reissued a "neutral" rating on shares of Dave in a research note on Tuesday, June 10th. Citigroup reaffirmed an "outperform" rating on shares of Dave in a research note on Monday, July 14th. Canaccord Genuity Group lifted their price objective on Dave from $130.00 to $179.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, B. Riley increased their target price on Dave from $239.00 to $277.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $250.50.

Read Our Latest Research Report on DAVE

Dave Trading Down 1.3%

DAVE stock opened at $232.73 on Monday. Dave has a 52-week low of $28.74 and a 52-week high of $286.45. The company has a quick ratio of 8.59, a current ratio of 8.59 and a debt-to-equity ratio of 0.38. The firm has a market cap of $3.10 billion, a P/E ratio of 64.11 and a beta of 3.95. The company's 50-day simple moving average is $223.76 and its 200-day simple moving average is $145.12.

Dave (NASDAQ:DAVE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $1.15. Dave had a return on equity of 34.85% and a net margin of 13.75%. As a group, equities analysts forecast that Dave will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Yadin Rozov sold 5,500 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were 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 owned 95,678 shares of the company's stock, valued at approximately $19,799,605.32. This represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jason Wilk sold 172,667 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $211.95, for a total transaction of $36,596,770.65. Following the sale, the chief executive officer owned 225,411 shares of the company's stock, valued at approximately $47,775,861.45. The trade was a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 294,960 shares of company stock worth $62,575,325 in the last quarter. 28.48% of the stock is currently owned by insiders.

Institutional Trading of Dave

Institutional investors have recently made changes to their positions in the company. Leavell Investment Management Inc. increased its stake in Dave by 4.6% during the second quarter. Leavell Investment Management Inc. now owns 4,510 shares of the fintech company's stock worth $1,211,000 after acquiring an additional 200 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Dave by 125.2% during the 2nd quarter. AlphaQuest LLC now owns 4,318 shares of the fintech company's stock worth $1,159,000 after purchasing an additional 2,401 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Dave during the 2nd quarter worth about $141,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Dave in the 2nd quarter valued at about $913,000. Finally, Silver Oak Wealth Advisors Services LLC acquired a new position in Dave in the second quarter valued at about $501,000. Hedge funds and other institutional investors own 18.01% of the company's stock.

Dave Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Dave (NASDAQ:DAVE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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