Dave (NASDAQ:DAVE) Reaches New 52-Week High - Should You Buy?

Shares of Dave Inc (NASDAQ:DAVE - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $221.94 and last traded at $218.87, with a volume of 135779 shares. The stock had previously closed at $209.17.

Analyst Ratings Changes

DAVE has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Dave from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Canaccord Genuity Group boosted their price target on Dave from $130.00 to $179.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Lake Street Capital increased their price objective on Dave from $118.00 to $177.00 and gave the company a "buy" rating in a research note on Friday, May 9th. B. Riley lifted their price objective on Dave from $206.00 to $239.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Barrington Research boosted their target price on shares of Dave from $90.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Dave presently has a consensus rating of "Buy" and an average price target of $189.00.

Dave Price Performance

The company has a 50 day moving average of $131.78 and a 200 day moving average of $106.05. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 70.20 and a beta of 3.93. The company has a quick ratio of 6.81, a current ratio of 6.81 and a debt-to-equity ratio of 0.48.

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 12.92% and a return on equity of 17.16%. As a group, equities research analysts forecast that Dave Inc will post 1.07 EPS for the current fiscal year.

Dave announced that its board has approved a share repurchase program on Monday, March 10th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the fintech company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Yadin Rozov sold 5,500 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $206.94, for a total transaction of $1,138,170.00. Following the completion of the sale, the director now owns 95,678 shares in the company, valued at approximately $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 can be accessed through this link. Corporate insiders own 28.48% of the company's stock.

Institutional Inflows and Outflows

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

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