Dave (NASDAQ:DAVE) Stock Lifted to “Buy” by Freedom Broker

Freedom Broker upgraded shares of Dave (NASDAQ:DAVE) from a hold rating to a buy rating in a research report report published on Friday morning, Marketbeat.com reports. Freedom Broker currently has $350.00 price objective on the fintech company’s stock.

A number of other analysts have also issued reports on the company. Zacks Research lowered Dave from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Loop Capital started coverage on Dave in a research note on Wednesday, September 9th. They issued a “buy” rating and a $500.00 price objective on the stock. Weiss Ratings downgraded shares of Dave from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. Canaccord Genuity Group increased their target price on shares of Dave from $342.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Citizens Jmp raised their target price on shares of Dave from $450.00 to $475.00 and gave the company a “market outperform” rating in a research note on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Dave currently has an average rating of “Moderate Buy” and a consensus target price of $420.29.

Dave Stock Performance

NASDAQ DAVE opened at $277.04 on Friday. 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 52-week low of $152.21 and a 52-week high of $458.25. The business’s 50-day moving average price is $338.77 and its 200 day moving average price is $291.48. The firm has a market cap of $3.54 billion, a P/E ratio of 25.56 and a beta of 4.07.

Dave (NASDAQ:DAVE) last posted its quarterly earnings results on Wednesday, November 4th. The fintech company reported $4.39 earnings per share 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 the consensus estimate of $191.89 million. On average, equities research analysts expect that Dave will post 13.37 earnings per share for the current year.

Hedge Funds Weigh In On Dave

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. increased its stake in shares of Dave by 1.5% in the third quarter. SBI Securities Co. Ltd. now owns 1,812 shares of the fintech company’s stock valued at $583,000 after buying an additional 27 shares during the period. Allworth Financial LP boosted its position in Dave by 25.4% during the 2nd quarter. Allworth Financial LP now owns 143 shares of the fintech company’s stock worth $53,000 after buying an additional 29 shares during the period. Intech Investment Management LLC boosted its position in Dave by 1.5% during the 3rd quarter. Intech Investment Management LLC now owns 2,694 shares of the fintech company’s stock worth $866,000 after buying an additional 39 shares during the period. Nisa Investment Advisors LLC grew its holdings in Dave by 12.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 412 shares of the fintech company’s stock worth $132,000 after acquiring an additional 46 shares during the last quarter. Finally, Gryphon Financial Partners LLC grew its position in shares of Dave by 4.3% in the 3rd quarter. Gryphon Financial Partners LLC now owns 1,315 shares of the fintech company’s stock valued at $423,000 after buying an additional 54 shares during the last quarter. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Dave

Here are a few of the latest headlines 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.