Dave Inc. (NASDAQ:DAVE) Receives $212.33 Consensus Price Target from Brokerages

Shares of Dave Inc. (NASDAQ:DAVE) have been given an average rating of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $227.50.

Several research analysts recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and issued a $250.00 price target on shares of Dave in a research note on Thursday, June 12th. 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 company a “buy” rating in a report on Tuesday, May 27th. Wall Street Zen raised Dave from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Dave in a research report on Tuesday, June 10th.

Insider Activity

In related news, Director Yadin Rozov sold 5,500 shares of the company’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 transaction, the director directly owned 95,678 shares of the company’s stock, valued at approximately $19,799,605.32. This represents a 5.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jason Wilk sold 172,667 shares of Dave stock in a transaction on Friday, June 13th. The stock was sold at an average price of $211.95, for a total value of $36,596,770.65. Following the completion of the sale, the chief executive officer directly owned 225,411 shares of the company’s stock, valued at approximately $47,775,861.45. The trade was a 43.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 294,960 shares of company stock worth $62,575,325 over the last three months. 28.48% of the stock is currently owned by 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) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing. Institutional investors and hedge funds own 18.01% of the company’s stock.

Dave Stock Up 4.6%

Shares of NASDAQ:DAVE opened at $282.49 on Friday. The firm has a market capitalization of $3.77 billion, a P/E ratio of 77.82 and a beta of 3.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 8.59 and a current ratio of 8.59. The stock has a 50 day moving average price of $191.45 and a 200-day moving average price of $125.78. Dave has a 52-week low of $28.74 and a 52-week high of $282.99.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share for the quarter, topping 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, equities research analysts anticipate that Dave will post 1.07 EPS for the current fiscal year.

Dave announced that its board has approved a share buyback plan on Monday, March 10th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the fintech company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.