Dave Inc (NASDAQ:DAVE) Given Average Rating of "Buy" by Analysts

Shares of Dave Inc (NASDAQ:DAVE - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven analysts that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $189.00.

Several equities research analysts recently weighed in on the company. Wall Street Zen raised shares of Dave from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Lake Street Capital raised their target price on Dave from $118.00 to $177.00 and gave the company a "buy" rating in a report on Friday, May 9th. B. Riley upped their price target on Dave from $206.00 to $239.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Barrington Research increased their price objective on Dave from $90.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Finally, Canaccord Genuity Group boosted their target price on shares of Dave from $130.00 to $179.00 and gave the stock a "buy" rating in a research report on Friday, May 9th.

Dave Price Performance

DAVE traded down $3.27 during trading on Wednesday, reaching $207.05. The stock had a trading volume of 284,303 shares, compared to its average volume of 427,751. Dave has a 1-year low of $28.31 and a 1-year high of $220.34. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 66.15 and a beta of 3.93. The stock has a 50 day moving average of $129.25 and a two-hundred day moving average of $105.34. The company has a quick ratio of 6.81, a current ratio of 6.81 and a debt-to-equity ratio of 0.48.

Dave (NASDAQ:DAVE - Get Free Report) last issued its earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $1.15. Dave had a return on equity of 17.16% and a net margin of 12.92%. As a group, equities analysts anticipate that Dave will post 1.07 EPS for the current fiscal year.

Dave declared that its Board of Directors has initiated a share buyback program on Monday, March 10th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the fintech company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC purchased a new stake in Dave Inc (NASDAQ:DAVE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned about 0.33% of Dave as of its most recent SEC filing. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Dave Company Profile

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.

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