Dave (NASDAQ:DAVE) Given a $280.00 Price Target by JMP Securities Analysts

Key Points

• JMP Securities has raised its price target for Dave (NASDAQ:DAVE) from $260.00 to $280.00, suggesting a potential upside of 37.04% from its previous close.
• Dave's stock currently has an average rating of Moderate Buy with an average target price of $253.83, according to MarketBeat.
• In recent insider transactions, CEO Jason Wilk sold 172,667 shares, representing a 43.38% decrease in his ownership, while significant buying activity has also been observed from various institutional investors.

Dave (NASDAQ:DAVE - Get Free Report) has been given a $280.00 price target by equities research analysts at JMP Securities in a note issued to investors on Thursday, Marketbeat.com reports. The firm presently has a "market outperform" rating on the fintech company's stock. JMP Securities' price target suggests a potential upside of 52.99% from the company's current price.

DAVE has been the topic of a number of other research reports. Canaccord Genuity Group raised their price objective on shares of Dave from $130.00 to $179.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Barrington Research restated an "outperform" rating and issued a $290.00 price target on shares of Dave in a research report on Monday, August 4th. Piper Sandler restated a "neutral" rating on shares of Dave in a research report on Tuesday, June 10th. Benchmark restated a "buy" rating and issued a $320.00 price target on shares of Dave in a research report on Monday, July 14th. Finally, Lake Street Capital lifted their price target on shares of Dave from $118.00 to $177.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Dave Price Performance

Shares of NASDAQ DAVE traded down $8.37 during mid-day trading on Thursday, reaching $183.02. 790,043 shares of the company traded hands, compared to its average volume of 762,568. Dave has a fifty-two week low of $30.20 and a fifty-two week high of $286.45. 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 firm has a market cap of $2.44 billion, a PE ratio of 48.42 and a beta of 3.95. The stock has a fifty day simple moving average of $224.20 and a 200-day simple moving average of $148.97.

Dave (NASDAQ:DAVE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The fintech company reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $1.15. Dave had a net margin of 12.74% and a return on equity of 34.75%. Equities research analysts anticipate that Dave will post 1.07 EPS for the current fiscal year.

Insider Activity

In related news, Director Yadin Rozov sold 5,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $206.94, for a total value of $1,138,170.00. Following the completion of the transaction, the director owned 95,678 shares of the company's stock, valued at approximately $19,799,605.32. This trade represents a 5.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael W. Pope sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $215.82, for a total transaction of $3,237,300.00. Following the completion of the transaction, the director directly owned 8,168 shares of the company's stock, valued at $1,762,817.76. This represents a 64.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 294,960 shares of company stock worth $62,575,325. Company insiders own 28.48% of the company's stock.

Hedge Funds Weigh In On Dave

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in Dave by 4,933.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company's stock worth $41,000 after purchasing an additional 148 shares during the period. KBC Group NV acquired a new stake in shares of Dave during the 2nd quarter valued at $85,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Dave during the 2nd quarter valued at $141,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of Dave during the 2nd quarter valued at $208,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Dave during the 2nd quarter valued at $213,000. Institutional investors and hedge funds own 18.01% of the company's stock.

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.