Dave Inc. (NASDAQ:DAVE) Receives Average Recommendation of "Moderate Buy" from Brokerages

Dave Inc. (NASDAQ:DAVE - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $237.50.

DAVE has been the topic of several recent analyst reports. B. Riley raised their price target on shares of Dave from $206.00 to $239.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Wall Street Zen upgraded shares of Dave from a "hold" rating to a "buy" rating in a report on Saturday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Dave in a report on Tuesday, June 10th. Benchmark restated a "buy" rating and issued a $320.00 price objective on shares of Dave in a research note on Monday, July 14th. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Dave in a report on Tuesday, June 10th.

Dave Stock Performance

Shares of NASDAQ DAVE traded up $1.62 during trading hours on Thursday, reaching $210.61. The stock had a trading volume of 380,908 shares, compared to its average volume of 607,842. The business's fifty day moving average is $220.29 and its two-hundred day moving average is $139.83. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.59 and a quick ratio of 8.59. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 58.02 and a beta of 3.98. Dave has a twelve month low of $28.74 and a twelve month high of $286.45.

Dave (NASDAQ:DAVE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $0.82 by $1.15. Dave had a return on equity of 34.85% and a net margin of 13.75%. As a group, research analysts expect that Dave will post 1.07 EPS for the current year.

Insider Buying and Selling

In other Dave news, Director Yadin Rozov sold 5,500 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $206.94, for a total transaction of $1,138,170.00. Following the sale, the director directly owned 95,678 shares of the company's stock, valued at approximately $19,799,605.32. This represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael W. Pope sold 15,000 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $215.82, for a total value of $3,237,300.00. Following the completion of the transaction, the director owned 8,168 shares of the company's stock, valued at $1,762,817.76. The trade was a 64.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 294,960 shares of company stock valued at $62,575,325. Insiders own 28.48% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DAVE. Kingswood Wealth Advisors LLC purchased a new stake in Dave in the second quarter valued at approximately $208,000. Pallas Capital Advisors LLC bought a new position in Dave in the 2nd quarter valued at $227,000. KLP Kapitalforvaltning AS boosted its holdings in shares of Dave by 11.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 1,900 shares of the fintech company's stock valued at $510,000 after buying an additional 200 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of Dave during the 2nd quarter valued at about $591,000. Finally, Harbour Capital Advisors LLC acquired a new position in Dave during the second quarter worth about $621,000. 18.01% of the stock is owned by institutional investors.

About Dave

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.