Dave (NASDAQ:DAVE) Price Target Raised to $260.00 at JMP Securities

Dave (NASDAQ:DAVE - Get Free Report) had its price objective raised by stock analysts at JMP Securities from $200.00 to $260.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "market outperform" rating on the fintech company's stock. JMP Securities' target price would indicate a potential upside of 24.89% from the company's current price.

A number of other brokerages have also recently issued reports on DAVE. B. Riley increased their price objective 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. Canaccord Genuity Group increased their price objective on shares of Dave from $130.00 to $179.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Lake Street Capital upped their price objective on Dave from $118.00 to $177.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wall Street Zen raised Dave from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of Dave in a research note on Thursday, June 12th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $237.50.

Dave Stock Performance

Shares of Dave stock traded up $5.53 on Monday, hitting $208.19. 106,358 shares of the company's stock were exchanged, compared to its average volume of 445,418. The company has a 50-day simple moving average of $209.97 and a 200-day simple moving average of $132.43. The stock has a market capitalization of $2.78 billion, a PE ratio of 58.13 and a beta of 3.98. Dave has a 1 year low of $28.74 and a 1 year high of $286.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 8.59 and a current ratio of 8.59.

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, 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, equities analysts anticipate that Dave will post 1.07 EPS for the current year.

Insider Transactions at Dave

In related news, CEO Jason Wilk sold 172,667 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $211.95, for a total value of $36,596,770.65. Following the completion of the transaction, the chief executive officer directly owned 225,411 shares of the company's stock, valued at approximately $47,775,861.45. This trade represents a 43.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael W. Pope sold 1,793 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $209.82, for a total transaction of $376,207.26. Following the completion of the transaction, the director directly owned 6,375 shares of the company's stock, valued at approximately $1,337,602.50. This trade represents a 21.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 294,960 shares of company stock valued at $62,575,325. 28.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC purchased a new stake in Dave during the 1st quarter valued at $3,487,000. Pallas Capital Advisors LLC purchased a new position in shares of Dave during the 2nd quarter worth about $227,000. Baader Bank Aktiengesellschaft bought a new position in Dave during the 2nd quarter valued at about $591,000. Wealth Enhancement Advisory Services LLC bought a new position in Dave during the 2nd quarter valued at about $656,000. Finally, Harbour Capital Advisors LLC bought a new position in Dave during the 2nd quarter valued at about $621,000. Hedge funds and other institutional investors 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.

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