Brokerages Set Dave Inc. (NASDAQ:DAVE) PT at $304.25

Shares of Dave Inc. (NASDAQ:DAVE) have earned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $304.25.

A number of equities research analysts have recently commented on DAVE shares. Wall Street Zen upgraded shares of Dave from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Citigroup reaffirmed an “outperform” rating on shares of Dave in a research note on Wednesday, November 5th. Weiss Ratings downgraded shares of Dave from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. JPMorgan Chase & Co. set a $300.00 target price on Dave in a report on Friday, September 26th. Finally, Citizens Jmp upped their price target on Dave from $300.00 to $310.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 5th.

Insiders Place Their Bets

In other news, CEO Jason Wilk sold 81,693 shares of Dave stock in a transaction on Friday, September 19th. The stock was sold at an average price of $230.28, for a total transaction of $18,812,264.04. Following the transaction, the chief executive officer owned 217,854 shares in the company, valued at $50,167,419.12. The trade was a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yadin Rozov sold 4,726 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $228.06, for a total transaction of $1,077,811.56. Following the transaction, the director directly owned 75,197 shares in the company, valued at approximately $17,149,427.82. The trade was a 5.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 226,943 shares of company stock valued at $50,301,987 in the last three months. 28.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dave

Several institutional investors and hedge funds have recently bought and sold shares of DAVE. SBI Securities Co. Ltd. increased its holdings in shares of Dave by 3.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,953 shares of the fintech company’s stock worth $524,000 after buying an additional 60 shares during the last quarter. Brevan Howard Capital Management LP lifted its holdings in Dave by 1.6% in the third quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company’s stock valued at $767,000 after acquiring an additional 62 shares during the last quarter. JPMorgan Chase & Co. grew its position in Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock worth $2,412,000 after acquiring an additional 65 shares during the period. Arizona State Retirement System increased its stake in Dave by 3.3% during the third quarter. Arizona State Retirement System now owns 2,787 shares of the fintech company’s stock worth $556,000 after acquiring an additional 88 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Dave by 3.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 2,931 shares of the fintech company’s stock valued at $787,000 after purchasing an additional 91 shares during the period. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Dave Stock Performance

NASDAQ DAVE opened at $218.52 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.69 and a quick ratio of 8.69. The stock’s 50 day simple moving average is $218.66 and its 200-day simple moving average is $215.85. The company has a market cap of $2.95 billion, a PE ratio of 21.66 and a beta of 3.89. Dave has a 1-year low of $65.46 and a 1-year high of $286.45.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 EPS for the quarter, topping the consensus estimate of $2.29 by $1.95. The firm had revenue of $150.73 million during the quarter, compared to analysts’ expectations of $153.09 million. Dave had a return on equity of 65.86% and a net margin of 29.85%. Dave has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Dave will post 1.07 EPS for the current fiscal year.

Dave declared that its board has authorized a share buyback program on Wednesday, August 13th that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the fintech company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.