Dave (NASDAQ:DAVE - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.
DAVE has been the subject of several other research reports. JPMorgan Chase & Co. set a $300.00 target price on shares of Dave in a research report on Friday, September 26th. Piper Sandler reiterated a "neutral" rating on shares of Dave in a research report on Tuesday, June 10th. B. Riley upped their target price on shares of Dave from $239.00 to $277.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. JMP Securities upped their target price on shares of Dave from $280.00 to $300.00 and gave the company a "market outperform" rating in a research report on Friday, September 26th. Finally, Canaccord Genuity Group upped their target price on shares of Dave from $179.00 to $229.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Dave presently has a consensus rating of "Moderate Buy" and an average price target of $274.13.
Read Our Latest Analysis on DAVE
Dave Trading Up 2.5%
NASDAQ:DAVE traded up $5.13 during trading hours on Wednesday, hitting $208.01. 395,634 shares of the stock were exchanged, compared to its average volume of 417,900. The company's 50 day moving average is $209.94 and its two-hundred day moving average is $182.61. Dave has a twelve month low of $37.44 and a twelve month high of $286.45. The company has a quick ratio of 9.51, a current ratio of 9.51 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.81 billion, a P/E ratio of 55.03 and a beta of 3.88.
Dave declared that its board has initiated a share buyback program on Wednesday, August 13th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the fintech company to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.
Insiders Place Their Bets
In other Dave news, Director Yadin Rozov sold 14,660 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $199.54, for a total transaction of $2,925,256.40. Following the completion of the transaction, the director owned 79,923 shares in the company, valued at approximately $15,947,835.42. This represents a 15.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Imran Khan sold 39,534 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $223.13, for a total value of $8,821,221.42. Following the transaction, the director owned 79,110 shares of the company's stock, valued at approximately $17,651,814.30. This trade represents a 33.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,943 shares of company stock worth $50,301,987. Corporate insiders own 28.48% of the company's stock.
Hedge Funds Weigh In On Dave
Large investors have recently modified their holdings of the business. Great Lakes Advisors LLC acquired a new position in shares of Dave during the 1st quarter worth about $3,487,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Dave during the 2nd quarter worth about $591,000. Harbour Capital Advisors LLC acquired a new position in shares of Dave during the 2nd quarter worth about $621,000. Pallas Capital Advisors LLC acquired a new position in shares of Dave during the 2nd quarter worth about $227,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Dave during the 2nd quarter worth about $656,000. 18.01% of the stock is currently owned by institutional investors and hedge funds.
Dave Company Profile
(
Get Free Report)
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.
Further Reading

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