Dave (NASDAQ:DAVE) Sets New 1-Year High - Should You Buy?

Key Points

• 52-week high: Dave's stock reached a new 52-week high of $287.69 and last traded around $280.88 on volume of 267,819, trading well above its 50-day ($197.25) and 200-day ($204.97) moving averages and valuing the company at about $3.73 billion (P/E ~20.4).
• Analyst view: Wall Street's consensus is a "Moderate Buy" with a consensus price target of $315.25, based on one Strong Buy, ten Buy and three Hold ratings.
• $300 million buyback: The board authorized a $300M repurchase program (up to ~11.2% of shares), a move commonly interpreted as management signaling the stock may be undervalued, while institutional investors own roughly 18.0% of the company.

Dave Inc. (NASDAQ:DAVE - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as $287.69 and last traded at $280.8760, with a volume of 267819 shares traded. The stock had previously closed at $273.99.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings lowered Dave from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, January 26th. Citigroup restated an "outperform" rating on shares of Dave in a research report on Friday, April 10th. Zacks Research upgraded Dave from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 16th. Keefe, Bruyette & Woods raised their target price on Dave from $250.00 to $295.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. Finally, William Blair restated an "accumulate" rating on shares of Dave in a research report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $315.25.

Dave Stock Performance

The company has a 50-day simple moving average of $197.25 and a 200-day simple moving average of $204.97. The stock has a market cap of $3.73 billion, a P/E ratio of 20.37 and a beta of 3.81.

Dave declared that its Board of Directors has initiated a stock buyback plan on Monday, March 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the fintech company to buy up to 11.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Dave

Several institutional investors have recently bought and sold shares of the business. OP Asset Management Ltd bought a new position in Dave in the 1st quarter valued at $3,479,000. Andina Capital Management LLC bought a new stake in shares of Dave during the first quarter worth $347,000. Diversified Trust Co raised its position in shares of Dave by 8.9% during the first quarter. Diversified Trust Co now owns 3,108 shares of the fintech company's stock worth $541,000 after acquiring an additional 255 shares during the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of Dave during the fourth quarter worth $1,629,000. Finally, Vident Advisory LLC raised its position in shares of Dave by 14.6% during the fourth quarter. Vident Advisory LLC now owns 4,543 shares of the fintech company's stock worth $1,006,000 after acquiring an additional 579 shares during the last quarter. Institutional investors own 18.01% of the company's stock.

Dave Company Profile

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave's offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.

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