Dave (NASDAQ:DAVE) Trading Down 12.7% - What's Next?

Dave Inc (NASDAQ:DAVE - Get Free Report) shares traded down 12.7% on Friday . The stock traded as low as $207.26 and last traded at $207.93. 295,849 shares traded hands during trading, a decline of 32% from the average session volume of 431,936 shares. The stock had previously closed at $238.25.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JMP Securities upped their price objective on Dave from $125.00 to $200.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Piper Sandler restated a "neutral" rating on shares of Dave in a research note on Tuesday, June 10th. B. Riley increased their price objective on Dave from $206.00 to $239.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Barrington Research reiterated an "outperform" rating and issued a $250.00 price objective on shares of Dave in a report on Thursday. Finally, Lake Street Capital boosted their target price on Dave from $118.00 to $177.00 and gave the stock a "buy" 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 company has a consensus rating of "Moderate Buy" and an average target price of $212.33.

Dave Trading Up 4.1%

The company has a current ratio of 6.81, a quick ratio of 6.81 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $2.89 billion, a PE ratio of 69.23 and a beta of 3.93. The stock has a 50 day moving average price of $149.33 and a 200-day moving average price of $112.08.

Dave (NASDAQ:DAVE - Get Free Report) last announced its earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $1.15. Dave had a return on equity of 17.16% and a net margin of 12.92%. Sell-side analysts expect that Dave Inc will post 1.07 earnings per share for the current year.

Dave announced that its Board of Directors has initiated a stock 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 purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Dave

In other news, Director Yadin Rozov sold 5,500 shares of Dave stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $206.94, for a total transaction of $1,138,170.00. Following the transaction, the director now owns 95,678 shares in the company, valued at $19,799,605.32. This trade represents a 5.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 28.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dave

An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC purchased a new stake in shares of Dave Inc (NASDAQ:DAVE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned 0.33% of Dave as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 18.01% of the company's stock.

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.