Dave (NASDAQ:DAVE) Upgraded by Wall Street Zen to Buy Rating

Dave (NASDAQ:DAVE - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently issued reports on DAVE. BMO Capital Markets reiterated an "outperform" rating on shares of Dave in a report on Tuesday, June 10th. JMP Securities set a $260.00 price target on Dave and gave the company a "market outperform" rating in a research report on Monday, July 14th. Lake Street Capital boosted their price objective on Dave from $118.00 to $177.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. B. Riley raised their target price on Dave from $206.00 to $239.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Dave in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $237.50.

Dave Stock Up 0.8%

Shares of Dave stock opened at $210.61 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.59 and a quick ratio of 8.59. Dave has a 1-year low of $28.74 and a 1-year high of $286.45. The business's fifty day moving average price is $220.29 and its two-hundred day moving average price is $139.49. The company has a market capitalization of $2.81 billion, a P/E ratio of 58.02 and a beta of 3.98.

Dave (NASDAQ:DAVE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The fintech company reported $1.97 EPS for the quarter, beating 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, research analysts forecast that Dave will post 1.07 EPS for the current year.

Insider Buying and Selling

In other Dave 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 transaction of $1,138,170.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Imran Khan sold 80,965 shares of Dave stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $211.14, for a total transaction of $17,094,950.10. Following the completion of the transaction, the director directly owned 98,886 shares in the company, valued at approximately $20,878,790.04. This trade represents a 45.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 294,960 shares of company stock valued at $62,575,325 over the last ninety days. 28.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dave

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS lifted its holdings in shares of Dave by 11.8% in the second quarter. KLP Kapitalforvaltning AS now owns 1,900 shares of the fintech company's stock valued at $510,000 after purchasing an additional 200 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Dave during the second quarter valued at $208,000. Pallas Capital Advisors LLC purchased a new stake in Dave in the 2nd quarter worth about $227,000. Baader Bank Aktiengesellschaft acquired a new stake in Dave during the 2nd quarter worth about $591,000. Finally, Harbour Capital Advisors LLC purchased a new position in Dave during the 2nd quarter valued at about $621,000. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

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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