Dave (NASDAQ:DAVE) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Dave crossed above its 200-day moving average (200‑day MA $204.97), trading as high as $284.76 and last at $273.99 on Tuesday with about 755,377 shares changing hands.
• Wall Street sentiment is broadly positive — a consensus "Moderate Buy" with an average target of $315.25 (implying roughly mid‑20% upside) after several upgrades and raised price targets into the low‑to‑mid $300s.
• The board authorized a $300 million buyback (up to 11.2% of shares), but the momentum is mixed: some institutional additions were reported while there have been 104 insider sales and zero insider purchases in the past six months.

Dave Inc. (NASDAQ:DAVE - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $204.97 and traded as high as $284.76. Dave shares last traded at $273.99, with a volume of 755,377 shares changing hands.

Key Stories Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Wall Street analysts see meaningful upside — the mean of recent price targets implies roughly a mid-20% upside from current levels, supporting bullish sentiment and investor demand. Wall Street Analysts Predict Upside in DAVE
• Positive Sentiment: Recent analyst coverage includes multiple Buy/Outperform ratings and high price targets (median targets around the low-to-mid $300s), which likely helped lift sentiment and buying interest. QuiverQuant DAVE Coverage
• Positive Sentiment: Institutional additions from firms such as Susquehanna and BlackRock were flagged in recent filings — institutional buying can provide price support and signal conviction. QuiverQuant Institutional Activity
• Neutral Sentiment: Proxy/DEF 14A details estimate CEO Jason Wilk’s 2025 compensation at about $10.2M, down ~14.7% vs. 2024 — notable governance detail but not an immediate operational signal. QuiverQuant CEO Pay Report
• Negative Sentiment: Significant insider selling: QuiverQuant flags 104 insider sales and zero purchases in the past six months (including large sales by Imran Khan, Andrea Mitchell and CEO Jason Wilk), which can weigh on sentiment and be interpreted as risk by investors. QuiverQuant Insider Trading
• Negative Sentiment: Several large institutions materially trimmed positions (e.g., Divisadero, Two Sigma, Ameriprise, D. E. Shaw), a flow that could add selling pressure despite pockets of buying. QuiverQuant Institutional Moves

Analyst Ratings Changes

DAVE has been the subject of several recent research reports. Canaccord Genuity Group boosted their price objective on Dave from $274.00 to $328.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. UBS Group reiterated a "neutral" rating on shares of Dave in a report on Friday, March 13th. Citizens Jmp upped their price target on Dave from $310.00 to $335.00 and gave the stock a "market outperform" rating in a report on Friday, April 10th. Zacks Research upgraded Dave from a "hold" rating to a "strong-buy" rating in a report on Monday, February 16th. Finally, Citigroup reiterated an "outperform" rating on shares of Dave in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Dave currently has a consensus rating of "Moderate Buy" and an average target price of $315.25.

Dave Stock Up 2.5%

The company has a 50-day simple moving average of $197.25 and a two-hundred day simple moving average of $204.97. The firm has a market cap of $3.72 billion, a PE ratio of 20.30 and a beta of 3.81.

Dave declared that its board has authorized a stock buyback program on Monday, March 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the fintech company to buy up to 11.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Institutional Trading of Dave

Several hedge funds have recently made changes to their positions in the company. Brevan Howard Capital Management LP raised its stake in shares of Dave by 1.6% in the third quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company's stock valued at $767,000 after buying an additional 62 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company's stock valued at $2,412,000 after buying an additional 65 shares during the period. Blue Trust Inc. raised its stake in shares of Dave by 106.8% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company's stock valued at $34,000 after buying an additional 79 shares during the period. Arizona State Retirement System raised its stake in shares of Dave by 3.3% in the third quarter. Arizona State Retirement System now owns 2,787 shares of the fintech company's stock valued at $556,000 after buying an additional 88 shares during the period. Finally, Westend Capital Management LLC raised its stake in shares of Dave by 100.0% in the fourth quarter. Westend Capital Management LLC now owns 200 shares of the fintech company's stock valued at $44,000 after buying an additional 100 shares during the period. 18.01% of the stock is currently owned by institutional investors.

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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