Dave (NASDAQ:DAVE) Shares Pass Above 200 Day Moving Average – What’s Next?

Dave Inc (NASDAQ:DAVE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $110.20 and traded as high as $233.59. Dave shares last traded at $231.67, with a volume of 389,066 shares traded.

Analyst Ratings Changes

DAVE has been the topic of a number of recent analyst reports. B. Riley raised their price target on Dave from $206.00 to $239.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Dave in a research report on Tuesday. Piper Sandler reiterated a “neutral” rating on shares of Dave in a research report on Tuesday. JMP Securities lifted their target price on Dave from $125.00 to $200.00 and gave the company a “market outperform” rating in a research report on Friday, May 9th. Finally, Barrington Research lifted their target price on Dave from $90.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.00.

Dave Stock Performance

The company has a market capitalization of $3.09 billion, a P/E ratio of 74.02 and a beta of 3.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.81 and a quick ratio of 6.81. The company has a fifty day moving average price of $143.40 and a two-hundred day moving average price of $110.20.

Dave (NASDAQ:DAVE) last released 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 17.16% and a net margin of 12.92%. Equities analysts forecast 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 authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the fintech company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Yadin Rozov sold 5,500 shares of Dave 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 now directly owns 95,678 shares of the company’s stock, valued at $19,799,605.32. The trade was a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 28.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Dave

An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC purchased a new stake in Dave Inc (NASDAQ:DAVE) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 42,179 shares of the fintech company’s stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned 0.33% of Dave as of its most recent filing with the Securities & Exchange Commission. 18.01% of the stock is currently owned by institutional investors.

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.