Benchmark Reiterates Buy Rating for Dave (NASDAQ:DAVE)

Benchmark reiterated their buy rating on shares of Dave (NASDAQ:DAVE - Free Report) in a report released on Monday,Benzinga reports. The brokerage currently has a $320.00 price objective on the fintech company's stock.

DAVE has been the subject of a number of other reports. BMO Capital Markets reiterated an "outperform" rating on shares of Dave in a research note on Tuesday, June 10th. B. Riley boosted their target price on shares of Dave from $206.00 to $239.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Canaccord Genuity Group boosted their target price on shares of Dave from $130.00 to $179.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Barrington Research reiterated an "outperform" rating and set a $250.00 target price on shares of Dave in a research note on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of Dave from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $237.50.

Dave Stock Down 5.4%

DAVE stock traded down $11.56 during midday trading on Monday, hitting $202.49. The company's stock had a trading volume of 996,831 shares, compared to its average volume of 450,577. The company has a market cap of $2.70 billion, a PE ratio of 55.78 and a beta of 3.98. Dave has a 12 month low of $28.74 and a 12 month high of $286.45. The company has a current ratio of 8.59, a quick ratio of 8.59 and a debt-to-equity ratio of 0.38. The firm's 50-day moving average is $214.08 and its 200-day moving average is $133.97.

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

Insider Buying and Selling

In other news, CEO Jason Wilk sold 172,667 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $211.95, for a total value of $36,596,770.65. Following the completion of the sale, the chief executive officer directly owned 225,411 shares in the company, valued at $47,775,861.45. This represents a 43.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael W. Pope sold 1,793 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $209.82, for a total value of $376,207.26. Following the completion of the sale, the director owned 6,375 shares of the company's stock, valued at $1,337,602.50. This trade represents a 21.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,960 shares of company stock valued at $62,575,325. Company insiders own 28.48% of the company's stock.

Institutional Investors Weigh In On Dave

A number of institutional investors have recently bought and sold shares of DAVE. Great Lakes Advisors LLC purchased a new stake in Dave in the 1st quarter worth $3,487,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Dave in the 2nd quarter worth $656,000. Harbour Capital Advisors LLC purchased a new stake in Dave in the 2nd quarter worth $621,000. Baader Bank Aktiengesellschaft purchased a new stake in Dave in the 2nd quarter worth $591,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Dave in the 2nd quarter worth $227,000. Hedge funds and other institutional investors own 18.01% of the company's stock.

About Dave

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.