Dave (NASDAQ:DAVE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Dave (NASDAQ:DAVE) from a sell rating to a hold rating in a research report report published on Sunday morning,Wall Street Zen reports.

Several other brokerages also recently weighed in on DAVE. Piper Sandler assumed coverage on shares of Dave in a research note on Monday, August 17th. They set an “overweight” rating and a $390.00 target price for the company. Weiss Ratings lowered Dave from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 30th. JPMorgan Chase & Co. dropped their price target on Dave from $480.00 to $435.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. Citizens Jmp upped their price objective on Dave from $450.00 to $475.00 and gave the company a “market outperform” rating in a research note on Thursday, August 6th. Finally, Zacks Research downgraded Dave from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Dave presently has an average rating of “Moderate Buy” and a consensus target price of $425.69.

Dave Stock Down 3.1%

Shares of NASDAQ DAVE opened at $273.85 on Friday. The stock has a market cap of $3.49 billion, a PE ratio of 27.02 and a beta of 4.07. 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 has a 50-day moving average price of $344.33 and a 200 day moving average price of $290.06.

Dave (NASDAQ:DAVE) last released its quarterly earnings results on Wednesday, November 4th. The fintech company reported $4.39 EPS for the quarter, beating the consensus estimate of $4.09 by $0.30. Dave had a net margin of 28.15% and a return on equity of 59.86%. The firm had revenue of $197.70 million during the quarter, compared to the consensus estimate of $191.89 million. Equities research analysts forecast that Dave will post 13.04 earnings per share for the current year.

Hedge Funds Weigh In On Dave

A number of large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Dave by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock worth $44,069,000 after acquiring an additional 42,262 shares during the period. Ieq Capital LLC increased its stake in shares of Dave by 145.4% during the third quarter. Ieq Capital LLC now owns 67,620 shares of the fintech company’s stock worth $21,741,000 after acquiring an additional 40,064 shares during the period. Estuary Capital Management LP acquired a new position in shares of Dave during the first quarter worth about $20,556,000. Cooper Creek Partners Management LLC acquired a new position in shares of Dave during the first quarter worth about $18,313,000. Finally, Sei Investments Co. increased its stake in shares of Dave by 21.4% during the first quarter. Sei Investments Co. now owns 98,435 shares of the fintech company’s stock worth $17,135,000 after acquiring an additional 17,320 shares during the period. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Dave Company Profile

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.