Dave (NASDAQ:DAVE) Stock Bumped Up to Strong-Buy by Freedom Capital

Freedom Capital upgraded shares of Dave (NASDAQ:DAVE) from a hold rating to a strong-buy rating in a report published on Friday morning,Zacks reports.

DAVE has been the topic of several other research reports. Freedom Broker raised shares of Dave from a “hold” rating to a “buy” rating and set a $350.00 price objective on the stock in a research note on Friday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Dave in a report on Friday, November 6th. Citizens Jmp lifted their price target on shares of Dave from $450.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 6th. Canaccord Genuity Group boosted their price objective on shares of Dave from $342.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, UBS Group reissued a “buy” rating on shares of Dave in a report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Dave presently has a consensus rating of “Moderate Buy” and a consensus target price of $420.29.

Dave Price Performance

Shares of Dave stock traded up $9.67 during trading on Friday, hitting $277.04. 281,770 shares of the stock traded hands, compared to its average volume of 396,899. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 22.38 and a beta of 4.07. The firm’s fifty day moving average is $338.77 and its 200-day moving average is $291.48. Dave has a 52 week low of $152.21 and a 52 week high of $458.25.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data on Wednesday, November 4th. The fintech company reported $4.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.09 by $0.30. Dave had a return on equity of 59.86% and a net margin of 28.15%. The firm had revenue of $197.70 million for the quarter, compared to analysts’ expectations of $191.89 million. Research analysts expect that Dave will post 13.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Dave

Several institutional investors and hedge funds have recently bought and sold shares of the company. GK Wealth Management LLC acquired a new stake in shares of Dave in the third quarter worth $34,000. Signaturefd LLC increased its stake in Dave by 119.2% during the 3rd quarter. Signaturefd LLC now owns 114 shares of the fintech company’s stock worth $37,000 after buying an additional 62 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Dave by 25.4% during the second quarter. Allworth Financial LP now owns 143 shares of the fintech company’s stock valued at $53,000 after acquiring an additional 29 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Dave by 43.9% during the second quarter. GAMMA Investing LLC now owns 223 shares of the fintech company’s stock worth $83,000 after buying an additional 68 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Dave by 841.7% in the third quarter. Sterling Capital Management LLC now owns 339 shares of the fintech company’s stock worth $109,000 after buying an additional 303 shares in the last quarter. 18.01% of the stock is owned by hedge funds and other institutional investors.

Key Dave News

Here’s some of the latest news about DAVE:

• Positive Sentiment: Freedom Broker upgraded Dave from “hold” to “buy” and set a $350 price target, about 26% above the cited share price. The upgrade may support investor optimism. Freedom Broker stock recommendations
• Negative Sentiment: Lowey Dannenberg said it is investigating Dave for potential violations of federal securities laws. The announcement could weigh on sentiment, but it is an investigation—not a finding of wrongdoing or a filed lawsuit. Investigation announcement

About Dave

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.