Dave (NASDAQ:DAVE) Releases Earnings Results

Dave (NASDAQ:DAVE) released its quarterly earnings data on Monday. The fintech company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.50, FiscalAI reports. The firm had revenue of $163.72 million during the quarter, compared to analysts’ expectations of $161.23 million. Dave had a net margin of 29.85% and a return on equity of 65.86%.

Dave Stock Up 3.0%

Shares of NASDAQ:DAVE traded up $5.74 during trading hours on Monday, reaching $199.01. The stock had a trading volume of 917,299 shares, compared to its average volume of 534,498. Dave has a 1 year low of $65.46 and a 1 year high of $286.45. The firm’s 50 day moving average is $194.69 and its 200-day moving average is $206.57. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 19.72 and a beta of 3.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.69 and a current ratio of 8.69.

Analyst Ratings Changes

DAVE has been the topic of a number of research analyst reports. Citigroup restated an “outperform” rating on shares of Dave in a research report on Wednesday, November 5th. B. Riley Financial reaffirmed a “buy” rating and issued a $297.00 price objective (up from $277.00) on shares of Dave in a research note on Wednesday, November 5th. Zacks Research raised Dave from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Keefe, Bruyette & Woods began coverage on Dave in a research report on Monday, February 9th. They issued an “outperform” rating for the company. Finally, Citizens Jmp set a $310.00 price target on shares of Dave in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.43.

Insider Buying and Selling at Dave

In related news, Director Imran Khan sold 1,146 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $204.00, for a total value of $233,784.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jason Wilk sold 7,393 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $203.77, for a total value of $1,506,471.61. Following the completion of the sale, the chief executive officer owned 210,461 shares in the company, valued at approximately $42,885,637.97. This represents a 3.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 105,164 shares of company stock valued at $20,700,863. Corporate insiders own 28.48% of the company’s stock.

Institutional Investors Weigh In On Dave

Several institutional investors have recently added to or reduced their stakes in DAVE. National Bank of Canada FI acquired a new position in Dave during the 3rd quarter worth approximately $30,000. WealthCollab LLC purchased a new position in Dave in the second quarter worth $30,000. Kestra Advisory Services LLC acquired a new stake in Dave in the fourth quarter valued at $36,000. Atlas Capital Advisors Inc. acquired a new position in shares of Dave during the 4th quarter worth $84,000. Finally, Inspire Advisors LLC purchased a new position in shares of Dave in the 4th quarter valued at about $207,000. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Dave Company Profile

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave’s offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.