Dave Inc. (DAVE) - What Are Brokerages Thinking About This Stock?

Key Points

• Analysts have a “Moderate Buy” consensus on Dave, with 14 buy ratings and four hold ratings among 18 covering brokerages. Their average 12-month price target is $425.69.
• Dave reported quarterly earnings of $4.39 per share, beating the $4.09 consensus estimate, while revenue of $197.7 million also exceeded expectations of $191.89 million.
• DAVE shares were reported down 3.1%, opening at $273.85; the stock has ranged from $152.21 to $458.25 over the past year.

Dave Inc. (NASDAQ:DAVE - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $425.69.

A number of equities analysts have commented on DAVE shares. Lake Street Capital reissued a "buy" rating and issued a $450.00 price objective on shares of Dave in a research note on Thursday, August 6th. Zacks Research lowered Dave from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Citigroup reaffirmed an "outperform" rating on shares of Dave in a report on Thursday, August 6th. Piper Sandler began coverage on shares of Dave in a research report on Monday, August 17th. They set an "overweight" rating and a $390.00 price target on the stock. Finally, Monness Crespi & Hardt initiated coverage on shares of Dave in a research report on Monday, October 26th. They set a "neutral" rating on the stock.

Hedge Funds Weigh In On Dave

A number of institutional investors have recently modified their holdings of DAVE. GK Wealth Management LLC acquired a new position in shares of Dave during the third quarter worth approximately $34,000. Signaturefd LLC increased its holdings in shares of Dave by 119.2% in the third quarter. Signaturefd LLC now owns 114 shares of the fintech company's stock valued at $37,000 after purchasing an additional 62 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Dave by 25.4% in the second 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 holdings in shares of Dave by 43.9% in the second 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 raised its position in Dave by 841.7% in the 3rd quarter. Sterling Capital Management LLC now owns 339 shares of the fintech company's stock worth $109,000 after purchasing an additional 303 shares during the last quarter. 18.01% of the stock is owned by institutional investors.

Dave Stock Down 3.1%

Shares of DAVE opened at $273.85 on Wednesday. The company has a market capitalization of $3.49 billion, a P/E ratio of 22.12 and a beta of 4.07. Dave has a one year low of $152.21 and a one year high of $458.25. The business's 50 day simple moving average is $344.33 and its 200-day simple moving average is $290.06. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.22 and a quick ratio of 4.22.

Dave (NASDAQ:DAVE - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The fintech company reported $4.39 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $191.89 million. As a group, sell-side analysts predict that Dave will post 13.04 EPS for the current fiscal year.

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.

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