Dave (NASDAQ:DAVE) Price Target Raised to $229.00

Dave (NASDAQ:DAVE) had its price objective increased by Canaccord Genuity Group from $179.00 to $229.00 in a research report report published on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the fintech company’s stock.

Other analysts also recently issued reports about the company. Wall Street Zen upgraded Dave from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. BMO Capital Markets reiterated an “outperform” rating on shares of Dave in a research note on Tuesday, June 10th. Lake Street Capital increased their price target on Dave from $118.00 to $177.00 and gave the company a “buy” rating in a report on Friday, May 9th. Piper Sandler reissued a “neutral” rating on shares of Dave in a report on Tuesday, June 10th. Finally, Benchmark reissued a “buy” rating and set a $320.00 price target on shares of Dave in a report on Monday, July 14th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.17.

Dave Stock Performance

Shares of DAVE opened at $183.02 on Friday. The business’s fifty day simple moving average is $224.20 and its two-hundred day simple moving average is $149.38. The company has a current ratio of 9.51, a quick ratio of 9.51 and a debt-to-equity ratio of 0.35. Dave has a 12 month low of $30.20 and a 12 month high of $286.45. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 48.42 and a beta of 3.95.

Dave (NASDAQ:DAVE) last issued its earnings results on Thursday, May 8th. The fintech company reported $1.97 EPS for the quarter, beating the consensus estimate of $0.82 by $1.15. Dave had a return on equity of 33.02% and a net margin of 12.74%. Research analysts anticipate that Dave will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jason Wilk sold 172,667 shares of the firm’s 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 transaction, the chief executive officer directly owned 225,411 shares of the company’s stock, valued at approximately $47,775,861.45. This trade represents a 43.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yadin Rozov sold 5,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 95,678 shares in the company, valued at approximately $19,799,605.32. This represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 294,960 shares of company stock valued at $62,575,325 in the last 90 days. 28.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dave

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. raised its holdings in Dave by 3.2% during the second quarter. SBI Securities Co. Ltd. now owns 1,953 shares of the fintech company’s stock valued at $524,000 after acquiring an additional 60 shares during the period. Nisa Investment Advisors LLC raised its holdings in Dave by 4,933.3% during the second quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock valued at $41,000 after acquiring an additional 148 shares during the period. Creative Planning raised its holdings in Dave by 3.8% during the second quarter. Creative Planning now owns 5,112 shares of the fintech company’s stock valued at $1,372,000 after acquiring an additional 188 shares during the period. KLP Kapitalforvaltning AS raised its holdings in Dave by 11.8% during the second quarter. KLP Kapitalforvaltning AS now owns 1,900 shares of the fintech company’s stock valued at $510,000 after acquiring an additional 200 shares during the period. Finally, Leavell Investment Management Inc. raised its holdings in Dave by 4.6% during the second quarter. Leavell Investment Management Inc. now owns 4,510 shares of the fintech company’s stock valued at $1,211,000 after acquiring an additional 200 shares during the period. 18.01% of the stock is 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.