Seaport Res Ptn Has Positive Outlook of Dave FY2025 Earnings

Key Points

• Seaport Res Ptn has raised its FY2025 earnings per share estimate for Dave Inc. to $6.31, up from $6.29, compared to the current consensus estimate of $1.07 per share.
• Institutional investors and hedge funds own 18.01% of Dave's stock, with several recently increasing their stakes, showcasing confidence in the company.
• Dave's Board of Directors has authorized a stock buyback program up to $125 million, indicating a belief that the company's shares are undervalued.

Dave Inc. (NASDAQ:DAVE - Free Report) - Equities researchers at Seaport Res Ptn lifted their FY2025 earnings per share (EPS) estimates for shares of Dave in a research note issued on Monday, October 13th. Seaport Res Ptn analyst J. Cantwell now anticipates that the fintech company will post earnings per share of $6.31 for the year, up from their previous forecast of $6.29. The consensus estimate for Dave's current full-year earnings is $1.07 per share. Seaport Res Ptn also issued estimates for Dave's Q4 2025 earnings at $1.95 EPS, Q1 2026 earnings at $1.91 EPS, Q2 2026 earnings at $2.07 EPS, Q3 2026 earnings at $1.81 EPS, Q4 2026 earnings at $1.83 EPS and FY2026 earnings at $7.62 EPS.

Several other research firms have also recently commented on DAVE. B. Riley raised their price target on Dave from $239.00 to $277.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Canaccord Genuity Group boosted their target price on Dave from $179.00 to $229.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Citizens Jmp boosted their target price on Dave from $280.00 to $300.00 and gave the stock a "mkt outperform" rating in a research report on Friday, September 26th. Citigroup reiterated an "outperform" rating on shares of Dave in a research report on Thursday, August 7th. Finally, Barrington Research reiterated an "outperform" rating and set a $290.00 target price on shares of Dave in a research report on Monday, August 18th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $274.13.

Dave Stock Up 6.8%

DAVE opened at $216.25 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 9.51 and a quick ratio of 9.51. The business has a 50 day simple moving average of $207.29 and a 200-day simple moving average of $185.68. The stock has a market capitalization of $2.92 billion, a P/E ratio of 57.21 and a beta of 3.88. Dave has a 12 month low of $37.44 and a 12 month high of $286.45.

Institutional Investors Weigh In On Dave

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WealthCollab LLC purchased a new stake in shares of Dave in the second quarter worth about $30,000. Nisa Investment Advisors LLC boosted its position in shares of Dave by 4,933.3% in the second quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company's stock worth $41,000 after buying an additional 148 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Dave in the third quarter worth about $47,000. Team Financial Group LLC purchased a new stake in shares of Dave in the third quarter worth about $54,000. Finally, KBC Group NV purchased a new stake in shares of Dave in the second quarter worth about $85,000. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dave

In other Dave news, CEO Jason Wilk sold 81,693 shares of the company's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $230.28, for a total transaction of $18,812,264.04. Following the completion of the sale, the chief executive officer directly owned 217,854 shares in the company, valued at $50,167,419.12. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Yadin Rozov sold 14,660 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $199.54, for a total value of $2,925,256.40. Following the sale, the director owned 79,923 shares of the company's stock, valued at $15,947,835.42. This represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,943 shares of company stock worth $50,301,987. 28.48% of the stock is currently owned by insiders.

Dave announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 13th that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the fintech company to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.