Dave (NASDAQ:DAVE) Price Target Raised to $277.00

Dave (NASDAQ:DAVE) had its price objective upped by analysts at B. Riley from $239.00 to $277.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the fintech company’s stock. B. Riley’s price objective suggests a potential upside of 15.32% from the company’s current price.

A number of other analysts have also commented on DAVE. Barrington Research reiterated an “outperform” rating and issued a $250.00 price objective on shares of Dave in a research report on Thursday, June 12th. JMP Securities set a $260.00 price objective on Dave and gave the stock a “market outperform” rating in a research report on Monday, July 14th. Piper Sandler reiterated a “neutral” rating on shares of Dave in a research report on Tuesday, June 10th. Citigroup reiterated an “outperform” rating on shares of Dave in a research report on Monday, July 14th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Dave in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.83.

Dave Price Performance

Shares of DAVE stock opened at $240.20 on Tuesday. The stock’s fifty day moving average is $222.32 and its 200-day moving average is $143.04. 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 market capitalization of $3.20 billion, a PE ratio of 66.17 and a beta of 3.98. Dave has a 52 week low of $28.74 and a 52 week high of $286.45.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data 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 34.85% and a net margin of 13.75%. Equities research analysts expect that Dave will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Dave news, CEO Jason Wilk sold 172,667 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $211.95, for a total transaction of $36,596,770.65. Following the transaction, the chief executive officer owned 225,411 shares in the company, valued at approximately $47,775,861.45. This trade represents a 43.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Imran Khan sold 80,965 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $211.14, for a total value of $17,094,950.10. Following the transaction, the director owned 98,886 shares in the company, valued at approximately $20,878,790.04. This trade represents a 45.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 294,960 shares of company stock worth $62,575,325 in the last ninety days. 28.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dave

Several institutional investors have recently modified their holdings of DAVE. Great Lakes Advisors LLC bought a new position in shares of Dave during the 1st quarter valued at about $3,487,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Dave during the 2nd quarter valued at about $2,870,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Dave during the 2nd quarter valued at about $913,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Dave during the 2nd quarter valued at about $656,000. Finally, Harbour Capital Advisors LLC bought a new position in shares of Dave during the 2nd quarter valued at about $621,000. 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.