Dave Inc. (NASDAQ:DAVE - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $128.39 and traded as high as $283.19. Dave shares last traded at $279.80, with a volume of 361,220 shares traded.
Analyst Ratings Changes
A number of research firms recently commented on DAVE. Piper Sandler restated a "neutral" rating on shares of Dave in a report on Tuesday, June 10th. Lake Street Capital increased their price target on Dave from $118.00 to $177.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen upgraded Dave from a "sell" rating to a "hold" rating in a report on Monday, May 12th. B. Riley increased their price target on Dave from $206.00 to $239.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Dave in a report on Tuesday, June 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $227.50.
Read Our Latest Research Report on Dave
Dave Stock Performance
The stock has a 50-day moving average of $198.96 and a 200 day moving average of $128.39. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.59 and a quick ratio of 8.59. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 77.08 and a beta of 3.98.
Dave (NASDAQ:DAVE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The fintech company reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $1.15. Dave had a return on equity of 34.85% and a net margin of 13.75%. On average, analysts expect that Dave Inc. will post 1.07 EPS for the current year.
Dave declared that its board has authorized a stock buyback plan on Monday, March 10th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the fintech company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Insiders Place Their Bets
In other Dave news, CEO Jason Wilk sold 172,667 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $211.95, for a total value of $36,596,770.65. Following the sale, the chief executive officer owned 225,411 shares in the company, valued at approximately $47,775,861.45. The trade was a 43.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Imran Khan sold 80,965 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $211.14, for a total value of $17,094,950.10. Following the completion of the sale, the director owned 98,886 shares in the company, valued at $20,878,790.04. The trade was a 45.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,960 shares of company stock worth $62,575,325. Company insiders own 28.48% of the company's stock.
Institutional Investors Weigh In On Dave
An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC bought a new position in shares of Dave Inc. (NASDAQ:DAVE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned about 0.33% of Dave at the end of the most recent quarter. 18.01% of the stock is currently owned by institutional investors.
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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