Dave (NASDAQ:DAVE) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Dave (NASDAQ:DAVE) from a buy rating to a hold rating in a report released on Saturday.

DAVE has been the topic of a number of other reports. Zacks Research upgraded shares of Dave from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. B. Riley restated a “buy” rating and set a $297.00 price objective (up from $277.00) on shares of Dave in a research note on Wednesday, November 5th. Benchmark reiterated a “buy” rating on shares of Dave in a research note on Tuesday, January 13th. Citizens Jmp upped their price objective on Dave from $300.00 to $310.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Dave in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $304.25.

Dave Stock Up 1.0%

Shares of DAVE stock opened at $194.01 on Friday. The firm’s fifty day moving average price is $211.03 and its two-hundred day moving average price is $214.92. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26. Dave has a 1 year low of $65.46 and a 1 year high of $286.45. The firm has a market capitalization of $2.62 billion, a P/E ratio of 19.23 and a beta of 3.90.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data on Tuesday, November 4th. The fintech company reported $4.24 earnings per share for the quarter, beating the consensus estimate of $2.29 by $1.95. Dave had a return on equity of 65.86% and a net margin of 29.85%.The company had revenue of $150.73 million during the quarter, compared to analysts’ expectations of $153.09 million. On average, equities analysts predict that Dave will post 1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dave news, CEO Jason Wilk sold 7,393 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $203.77, for a total transaction of $1,506,471.61. Following the transaction, the chief executive officer owned 210,461 shares in the company, valued at $42,885,637.97. This represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Imran Khan sold 1,146 shares of Dave stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $204.00, for a total transaction of $233,784.00. The SEC filing for this sale provides additional information. Insiders have sold 105,164 shares of company stock valued at $20,700,863 in the last three months. Insiders own 28.48% of the company’s stock.

Institutional Investors Weigh In On Dave

Large investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. lifted its position in shares of Dave by 3.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,953 shares of the fintech company’s stock valued at $524,000 after acquiring an additional 60 shares during the period. Brevan Howard Capital Management LP raised its stake in Dave by 1.6% in the third quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company’s stock valued at $767,000 after purchasing an additional 62 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Dave by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock worth $2,412,000 after buying an additional 65 shares in the last quarter. Blue Trust Inc. increased its holdings in Dave by 106.8% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock valued at $34,000 after buying an additional 79 shares during the period. Finally, Arizona State Retirement System increased its holdings in Dave by 3.3% in the 3rd quarter. Arizona State Retirement System now owns 2,787 shares of the fintech company’s stock valued at $556,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 18.01% of the company’s stock.

About Dave

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave’s offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.