Dave (NASDAQ:DAVE) Stock Price Up 7.4% - Should You Buy?

Dave Inc. (NASDAQ:DAVE - Get Free Report)'s share price traded up 7.4% during mid-day trading on Thursday . The company traded as high as $238.62 and last traded at $242.81. 115,198 shares were traded during trading, a decline of 74% from the average session volume of 442,006 shares. The stock had previously closed at $226.11.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen raised Dave from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Benchmark downgraded Dave from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 10th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Dave in a research note on Tuesday, June 10th. B. Riley lifted their target price on shares of Dave from $206.00 to $239.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Lake Street Capital boosted their price target on shares of Dave from $118.00 to $177.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $212.33.

Dave Stock Up 7.6%

The business has a fifty day moving average price of $170.12 and a two-hundred day moving average price of $118.79. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 67.25 and a beta of 3.93. The company has a current ratio of 8.59, a quick ratio of 8.59 and a debt-to-equity ratio of 0.38.

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

Dave announced that its board has initiated a share repurchase plan on Monday, March 10th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the fintech company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Dave

In related news, Director Imran Khan sold 19,035 shares of Dave stock in a transaction on Friday, June 13th. The shares were sold at an average price of $217.07, for a total value of $4,131,927.45. Following the completion of the sale, the director now owns 98,885 shares of the company's stock, valued at approximately $21,464,966.95. The trade was a 16.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yadin Rozov sold 5,500 shares of the company's stock in a transaction 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 now owns 95,678 shares of the company's stock, 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. Insiders have sold 294,960 shares of company stock worth $62,575,325 over the last 90 days. 28.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dave

An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC acquired a new position in shares of Dave Inc. (NASDAQ:DAVE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned 0.33% of Dave at the end of the most recent quarter. Hedge funds and other 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.

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