Dave Inc. (NASDAQ:DAVE) Stock Rated “Moderate Buy” by Wall Street Brokerages

Dave Inc. (NASDAQ:DAVE) has been given an average rating of “Moderate Buy” by the eighteen research firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $425.69.

DAVE has been the subject of several recent research reports. Weiss Ratings cut Dave from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 30th. UBS Group reaffirmed a “buy” rating on shares of Dave in a research note on Thursday, October 1st. Monness Crespi & Hardt assumed coverage on shares of Dave in a research note on Monday, October 26th. They issued a “neutral” rating on the stock. Loop Capital assumed coverage on shares of Dave in a research report on Wednesday, September 9th. They set a “buy” rating and a $500.00 price target for the company. Finally, Citigroup reissued an “outperform” rating on shares of Dave in a research note on Thursday, August 6th.

Hedge Funds Weigh In On Dave

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ieq Capital LLC raised its position in shares of Dave by 145.4% during the 3rd quarter. Ieq Capital LLC now owns 67,620 shares of the fintech company’s stock valued at $21,741,000 after acquiring an additional 40,064 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Dave by 29.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,263 shares of the fintech company’s stock valued at $14,874,000 after purchasing an additional 10,641 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Dave by 6.6% in the 3rd quarter. Global Retirement Partners LLC now owns 1,001 shares of the fintech company’s stock valued at $322,000 after purchasing an additional 62 shares during the period. Intech Investment Management LLC boosted its position in shares of Dave by 1.5% in the 3rd quarter. Intech Investment Management LLC now owns 2,694 shares of the fintech company’s stock worth $866,000 after purchasing an additional 39 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its position in shares of Dave by 48.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 2,246 shares of the fintech company’s stock worth $722,000 after purchasing an additional 735 shares during the last quarter. 18.01% of the stock is owned by institutional investors.

Dave Trading Down 3.1%

DAVE stock opened at $273.85 on Wednesday. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.71. Dave has a twelve month low of $152.21 and a twelve month high of $458.25. The company has a market cap of $3.49 billion, a P/E ratio of 22.12 and a beta of 4.07. The business has a fifty day moving average of $344.33 and a 200-day moving average of $290.06.

Dave (NASDAQ:DAVE) last posted its quarterly earnings results on Wednesday, November 4th. The fintech company reported $4.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $0.30. The business had revenue of $197.70 million for the quarter, compared to analysts’ expectations of $191.89 million. Dave had a return on equity of 59.86% and a net margin of 28.15%. As a group, equities research analysts expect that Dave will post 13.04 EPS for the current year.

Dave Company Profile

Dave Inc. is a financial technology company that operates a mobile banking and personal finance platform in the United States. Its app is designed to help members manage everyday finances and access financial products through a digital interface. The company’s offerings include ExtraCash, a cash advance product, and Dave Checking, along with budgeting features and tools intended to help users monitor spending and avoid overdrafts. Dave also provides access to job opportunities through its Side Hustle feature.