Dave (NASDAQ:DAVE) Trading 6.9% Higher on Analyst Upgrade

Shares of Dave Inc. (NASDAQ:DAVE - Get Free Report) shot up 6.9% during mid-day trading on Monday after JMP Securities raised their price target on the stock from $200.00 to $260.00. JMP Securities currently has a market outperform rating on the stock. Dave traded as high as $216.50 and last traded at $216.69. 515,881 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 446,862 shares. The stock had previously closed at $202.66.

A number of other research firms have also recently weighed in on DAVE. Canaccord Genuity Group boosted their target price on shares of Dave from $130.00 to $179.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Lake Street Capital boosted their target price on shares of Dave from $118.00 to $177.00 and gave the company a "buy" rating in a research note on Friday, May 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Dave in a research note on Tuesday, June 10th. Piper Sandler restated a "neutral" rating on shares of Dave in a research note on Tuesday, June 10th. Finally, Benchmark restated a "buy" rating and set a $320.00 price target on shares of Dave in a research note on Monday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.50.

Insider Buying and Selling at Dave

In other Dave news, CEO Jason Wilk sold 172,667 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 225,411 shares in the company, valued at $47,775,861.45. This represents a 43.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Yadin Rozov sold 5,500 shares of the stock in a transaction that occurred on 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 owned 95,678 shares in the company, valued at $19,799,605.32. This represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 294,960 shares of company stock valued at $62,575,325. 28.48% of the stock is owned by corporate insiders.

Institutional Trading of Dave

Several institutional investors and hedge funds have recently bought and sold shares of DAVE. Pallas Capital Advisors LLC bought a new position in shares of Dave during the 2nd quarter valued at $227,000. Baader Bank Aktiengesellschaft bought a new position in shares of Dave during the 2nd quarter valued at $591,000. Harbour Capital Advisors LLC bought a new position in shares of Dave during the 2nd quarter valued at $621,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Dave during the 2nd quarter valued at $656,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Dave during the 1st quarter valued at $3,487,000. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

Dave Stock Performance

The company has a current ratio of 8.59, a quick ratio of 8.59 and a debt-to-equity ratio of 0.38. The company's fifty day moving average is $209.97 and its 200 day moving average is $132.43. The company has a market cap of $2.86 billion, a P/E ratio of 58.97 and a beta of 3.98.

Dave (NASDAQ:DAVE - Get Free Report) last released its earnings results on Thursday, May 8th. The fintech company reported $1.97 EPS for the quarter, beating the consensus estimate of $0.82 by $1.15. Dave had a net margin of 13.75% and a return on equity of 34.85%. As a group, equities analysts predict that Dave Inc. will post 1.07 earnings per share for the current fiscal year.

Dave Company Profile

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.