Dave (NASDAQ:DAVE) Trading Down 1.6% - Time to Sell?

Dave Inc (NASDAQ:DAVE - Get Free Report)'s stock price traded down 1.6% during trading on Wednesday . The stock traded as low as $202.34 and last traded at $207.05. 284,303 shares were traded during mid-day trading, a decline of 34% from the average session volume of 427,904 shares. The stock had previously closed at $210.32.

Analyst Ratings Changes

Several research analysts have commented on the company. JMP Securities raised 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. Barrington Research raised their target price on Dave from $90.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Lake Street Capital raised their target price on Dave from $118.00 to $177.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Canaccord Genuity Group raised their target price on Dave from $130.00 to $179.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded Dave from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $189.00.

Dave Stock Down 1.6%

The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 66.15 and a beta of 3.93. The stock has a 50 day moving average of $129.25 and a 200 day moving average of $105.34. The company has a quick ratio of 6.81, a current ratio of 6.81 and a debt-to-equity ratio of 0.48.

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

Dave declared that its board has approved a share buyback program on Monday, March 10th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the fintech company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On Dave

A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC bought a new position in Dave Inc (NASDAQ:DAVE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 as of its most recent SEC filing. 18.01% of the stock is owned by institutional investors and hedge funds.

About Dave

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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