Dave’s (DAVE) Outperform Rating Reiterated at Barrington Research

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

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Dave in a report on Wednesday, October 8th. Benchmark reaffirmed a “buy” rating and set a $320.00 target price on shares of Dave in a report on Wednesday, October 1st. JPMorgan Chase & Co. set a $300.00 target price on shares of Dave in a research note on Friday, September 26th. JMP Securities boosted their price target on shares of Dave from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Friday, September 26th. Finally, B. Riley upped their price target on shares of Dave from $239.00 to $277.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $304.25.

Dave Stock Performance

NASDAQ:DAVE opened at $243.47 on Monday. The business’s fifty day moving average is $219.21 and its 200 day moving average is $204.01. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 24.13 and a beta of 3.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 9.51 and a current ratio of 9.51. Dave has a 52-week low of $39.24 and a 52-week high of $286.45.

Dave announced that its board has authorized a stock buyback plan on Wednesday, August 13th that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the fintech company to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Dave

In other Dave news, Director Imran Khan sold 8,535 shares of Dave stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $217.70, for a total transaction of $1,858,069.50. Following the completion of the sale, the director owned 48,885 shares of the company’s stock, valued at $10,642,264.50. The trade was a 14.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $18,812,264.04. Following the completion of the transaction, the chief executive officer owned 217,854 shares of the company’s stock, valued at $50,167,419.12. The trade was a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 226,943 shares of company stock valued at $50,301,987. Insiders own 28.48% of the company’s stock.

Institutional Trading of Dave

A number of hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC boosted its stake in Dave by 5,603.0% in the third quarter. Voya Investment Management LLC now owns 144,285 shares of the fintech company’s stock worth $28,763,000 after buying an additional 141,755 shares in the last quarter. Invesco Ltd. raised its stake in shares of Dave by 2,379.9% during the second quarter. Invesco Ltd. now owns 97,485 shares of the fintech company’s stock worth $26,166,000 after acquiring an additional 93,554 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Dave by 14,074.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 84,766 shares of the fintech company’s stock worth $22,752,000 after acquiring an additional 84,168 shares during the last quarter. Mane Global Capital Management LP purchased a new stake in shares of Dave in the 2nd quarter valued at $20,035,000. Finally, Azora Capital LP purchased a new stake in shares of Dave in the 2nd quarter valued at $19,037,000. Institutional investors own 18.01% of the company’s stock.

Dave Company Profile

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.