Dave Inc. (NASDAQ:DAVE) Receives $212.33 Consensus Target Price from Brokerages

Dave Inc. (NASDAQ:DAVE - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $212.33.

A number of research analysts recently weighed in on the stock. BMO Capital Markets restated an "outperform" rating on shares of Dave in a research note on Tuesday, June 10th. Benchmark cut shares of Dave from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 10th. JMP Securities boosted their price target on shares of Dave from $125.00 to $200.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. Lake Street Capital boosted their price target on shares of Dave from $118.00 to $177.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Dave from a "sell" rating to a "hold" rating in a research note on Monday, May 12th.

Insider Activity

In other 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 now directly owns 95,678 shares in the company, valued at approximately $19,799,605.32. This represents a 5.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Imran Khan sold 80,965 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $211.14, for a total transaction of $17,094,950.10. Following the sale, the director now owns 98,886 shares in the company, valued at $20,878,790.04. This represents a 45.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 294,960 shares of company stock worth $62,575,325. 28.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Dave

A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC bought a new stake in shares of Dave Inc. (NASDAQ:DAVE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned approximately 0.33% of Dave at the end of the most recent quarter. Hedge funds and other institutional investors own 18.01% of the company's stock.

Dave Price Performance

Shares of DAVE traded up $6.61 during trading hours on Friday, reaching $249.64. 715,158 shares of the stock traded hands, compared to its average volume of 436,470. The company has a current ratio of 8.59, a quick ratio of 8.59 and a debt-to-equity ratio of 0.38. Dave has a 52-week low of $28.74 and a 52-week high of $256.00. The company's 50-day moving average price is $176.61 and its two-hundred day moving average price is $120.77. The company has a market cap of $3.33 billion, a P/E ratio of 68.77 and a beta of 3.93.

Dave (NASDAQ:DAVE - Get Free Report) last released its earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $1.15. Dave had a net margin of 13.75% and a return on equity of 34.85%. On average, analysts anticipate that Dave will post 1.07 earnings per share for the current year.

Dave announced that its Board of Directors has approved a stock repurchase program on Monday, March 10th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the fintech company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Dave Company Profile

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.