Dave (NASDAQ:DAVE) Stock Crosses Above 200 Day Moving Average - What's Next?

Dave Inc. (NASDAQ:DAVE - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $114.43 and traded as high as $207.00. Dave shares last traded at $200.88, with a volume of 817,779 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. B. Riley increased their price target on Dave from $206.00 to $239.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Barrington Research reissued an "outperform" rating and set a $250.00 price objective on shares of Dave in a research note on Thursday, June 12th. Wall Street Zen raised shares of Dave from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Benchmark lowered shares of Dave from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 10th. Finally, JMP Securities lifted their target price on shares of Dave from $125.00 to $200.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $212.33.

Dave Price Performance

The business has a 50 day moving average of $156.79 and a 200 day moving average of $114.43. The company has a market cap of $2.68 billion, a PE ratio of 55.34 and a beta of 3.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.59 and a quick ratio of 8.59.

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

Dave declared that its Board of Directors has initiated a share repurchase plan on Monday, March 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the fintech company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Yadin Rozov sold 5,500 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $206.94, for a total value of $1,138,170.00. Following the sale, the director now directly owns 95,678 shares of the company's stock, valued at $19,799,605.32. The trade was a 5.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Imran Khan sold 80,965 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was 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 now owns 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 293,167 shares of company stock worth $62,199,118. 28.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dave

A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC purchased a new position in Dave Inc. (NASDAQ:DAVE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 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 reporting period. 18.01% of the stock is currently owned by institutional investors.

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.

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