Dave (NASDAQ:DAVE) Price Target Raised to $229.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has raised the target price for Dave (NASDAQ:DAVE) from $179.00 to $229.00, maintaining a "buy" rating which signifies a potential upside of 19.65%.
• The latest consensus target price for Dave is $262.17, reflecting a "Moderate Buy" rating from analysts.
• In recent insider activity, Director Yadin Rozov sold 5,500 shares of the company's stock, indicating active trading among company insiders.

Dave (NASDAQ:DAVE - Get Free Report) had its target price increased by equities research analysts at Canaccord Genuity Group from $179.00 to $229.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the fintech company's stock. Canaccord Genuity Group's target price indicates a potential upside of 19.65% from the company's current price.

DAVE has been the subject of a number of other reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Dave in a research note on Tuesday, June 10th. B. Riley lifted their target price on Dave from $239.00 to $277.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Citigroup reiterated an "outperform" rating on shares of Dave in a research report on Thursday. Benchmark restated a "buy" rating and set a $320.00 price objective on shares of Dave in a research report on Monday, July 14th. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Dave in a research note on Tuesday, June 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Dave has an average rating of "Moderate Buy" and a consensus target price of $262.17.

Dave Stock Down 2.4%

Dave stock opened at $191.39 on Friday. Dave has a 52 week low of $30.20 and a 52 week high of $286.45. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 50.63 and a beta of 3.95. The company's 50-day moving average price is $224.56 and its two-hundred day moving average price is $148.32. 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 (NASDAQ:DAVE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The fintech company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $1.15. Dave had a net margin of 12.74% and a return on equity of 34.75%. On average, analysts expect that Dave will post 1.07 EPS for the current fiscal year.

Insider Activity

In other Dave news, Director Yadin Rozov sold 5,500 shares of the business's stock in a transaction on 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 $19,799,605.32. The trade was a 5.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael W. Pope sold 15,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $215.82, for a total value of $3,237,300.00. Following the completion of the sale, the director directly owned 8,168 shares of the company's stock, valued at approximately $1,762,817.76. This trade represents a 64.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 294,960 shares of company stock valued at $62,575,325. 28.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dave

Several hedge funds have recently bought and sold shares of the business. KBC Group NV acquired a new position in shares of Dave in the 2nd quarter valued at about $85,000. Jupiter Asset Management Ltd. grew its position in Dave by 93.8% during the second quarter. Jupiter Asset Management Ltd. now owns 63,252 shares of the fintech company's stock valued at $16,977,000 after purchasing an additional 30,618 shares in the last quarter. SBI Securities Co. Ltd. grew its position in Dave by 3.2% during the second quarter. SBI Securities Co. Ltd. now owns 1,953 shares of the fintech company's stock valued at $524,000 after purchasing an additional 60 shares in the last quarter. ProShare Advisors LLC acquired a new position in Dave in the 2nd quarter valued at approximately $511,000. Finally, Lisanti Capital Growth LLC acquired a new position in Dave in the 2nd quarter valued at approximately $4,983,000. 18.01% of the stock is owned by hedge funds and other institutional investors.

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.

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