Dave (NASDAQ:DAVE) Upgraded to Buy at Freedom Broker

Dave (NASDAQ:DAVE) was upgraded by investment analysts at Freedom Broker from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat.com reports. The brokerage currently has a $350.00 price target on the fintech company’s stock. Freedom Broker‘s price target points to a potential upside of 30.90% from the stock’s current price.

A number of other brokerages have also recently issued reports on DAVE. Piper Sandler started coverage on Dave in a report on Monday, August 17th. They issued an “overweight” rating and a $390.00 target price for the company. Seaport Research Partners restated a “buy” rating and set a $422.00 price target on shares of Dave in a report on Thursday, October 8th. JPMorgan Chase & Co. reduced their price target on Dave from $480.00 to $435.00 and set an “overweight” rating on the stock in a report on Thursday, November 5th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Dave in a report on Friday, November 6th. Finally, Citigroup reiterated an “outperform” rating on shares of Dave in a research report on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $420.29.

Dave Stock Performance

Shares of NASDAQ DAVE opened at $267.37 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.22 and a quick ratio of 4.22. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 26.96 and a beta of 4.07. The stock’s fifty day moving average price is $341.04 and its two-hundred day moving average price is $290.98. Dave has a one year low of $152.21 and a one year high of $458.25.

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

Institutional Investors Weigh In On Dave

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GK Wealth Management LLC bought a new position in Dave in the 3rd quarter worth about $34,000. Signaturefd LLC raised its holdings in shares of Dave by 119.2% in the third quarter. Signaturefd LLC now owns 114 shares of the fintech company’s stock valued at $37,000 after acquiring an additional 62 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Dave by 25.4% in 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Dave by 43.9% in the second quarter. GAMMA Investing LLC now owns 223 shares of the fintech company’s stock valued at $83,000 after acquiring an additional 68 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings 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 valued at $109,000 after acquiring an additional 303 shares in the last quarter. 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.