Dave (NASDAQ:DAVE) Receives "Outperform" Rating from Barrington Research

Barrington Research reiterated their outperform rating on shares of Dave (NASDAQ:DAVE - Free Report) in a report released on Thursday morning,Benzinga reports. Barrington Research currently has a $250.00 target price on the fintech company's stock.

Other analysts also recently issued research reports about the stock. Benchmark downgraded shares of Dave from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Lake Street Capital increased 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. Canaccord Genuity Group upped their price objective on Dave from $130.00 to $179.00 and gave the company a "buy" rating in a research report on Friday, May 9th. JMP Securities lifted their price objective on Dave from $125.00 to $200.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Dave in a report on Tuesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.33.

Dave Price Performance

Shares of DAVE traded up $6.58 on Thursday, reaching $238.25. The stock had a trading volume of 361,729 shares, compared to its average volume of 432,163. The firm has a 50-day moving average of $146.65 and a 200 day moving average of $111.07. The firm has a market capitalization of $3.18 billion, a PE ratio of 76.12 and a beta of 3.93. Dave has a twelve month low of $28.31 and a twelve month high of $243.08. 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 announced its quarterly earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share for the quarter, beating 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%. Sell-side analysts expect that Dave will post 1.07 EPS for the current year.

Dave announced that its board has approved a stock repurchase plan on Monday, March 10th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the fintech company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Dave

In related news, Director Yadin Rozov sold 5,500 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 95,678 shares of the company's stock, valued at approximately $19,799,605.32. This trade represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 28.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dave

A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC acquired a new stake in shares of Dave Inc (NASDAQ:DAVE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned 0.33% of Dave as of its most recent SEC filing. Hedge funds and other institutional investors own 18.01% of the company's stock.

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.