Dave (NASDAQ:DAVE) Given Outperform Rating at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Dave (NASDAQ:DAVE) in a research report report published on Monday,Benzinga reports. They currently have a $290.00 target price on the fintech company’s stock.

Several other equities analysts have also weighed in on DAVE. Citigroup restated an “outperform” rating on shares of Dave in a report on Monday, July 14th. JMP Securities set a $260.00 price objective on shares of Dave and gave the company a “market outperform” rating in a research report on Monday, July 14th. BMO Capital Markets restated an “outperform” rating on shares of Dave in a research note on Tuesday, June 10th. Benchmark restated a “buy” rating and set a $320.00 target price on shares of Dave in a research note on Monday, July 14th. Finally, Piper Sandler restated a “neutral” rating on shares of Dave in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $250.50.

Dave Stock Up 5.5%

Shares of NASDAQ DAVE opened at $245.51 on Monday. Dave has a 52-week low of $28.74 and a 52-week high of $286.45. The firm has a fifty day moving average of $223.76 and a 200-day moving average of $145.12. The stock has a market capitalization of $3.28 billion, a PE ratio of 67.63 and a beta of 3.95. The company has a quick ratio of 8.59, a current ratio of 8.59 and a debt-to-equity ratio of 0.38.

Dave (NASDAQ:DAVE) last announced 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 net margin of 13.75% and a return on equity of 34.85%. On average, analysts anticipate that Dave will post 1.07 EPS for the current year.

Insider Activity at Dave

In other news, Director Michael W. Pope sold 15,000 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $215.82, for a total value of $3,237,300.00. Following the completion of the transaction, the director directly owned 8,168 shares in the company, valued at $1,762,817.76. This trade represents a 64.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Imran Khan sold 80,965 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were 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 owned 98,886 shares of the company’s stock, valued at $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. Over the last three months, insiders have sold 294,960 shares of company stock valued at $62,575,325. Insiders own 28.48% of the company’s stock.

Institutional Trading of Dave

A number of large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its stake in Dave by 4,933.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock worth $41,000 after purchasing an additional 148 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Dave in the 2nd quarter worth approximately $141,000. Kingswood Wealth Advisors LLC acquired a new position in Dave in the 2nd quarter worth approximately $208,000. Pallas Capital Advisors LLC acquired a new position in Dave in the 2nd quarter worth approximately $227,000. Finally, Teacher Retirement System of Texas acquired a new position in Dave in the 2nd quarter worth approximately $377,000. 18.01% of the stock is currently owned by institutional investors.

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.