Analysts Set Dave Inc. (NASDAQ:DAVE) Price Target at $262.17

Dave Inc. (NASDAQ:DAVE) has earned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $262.1667.

DAVE has been the topic of a number of research analyst reports. Barrington Research reissued an “outperform” rating and issued a $290.00 target price on shares of Dave in a research note on Monday. Lake Street Capital increased their price objective on Dave from $118.00 to $177.00 and gave the company a “buy” rating in a research report on Friday, May 9th. B. Riley raised their price objective on Dave from $239.00 to $277.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Wall Street Zen lowered Dave from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Dave in a research report on Tuesday, June 10th.

Dave Stock Performance

NASDAQ:DAVE opened at $188.25 on Monday. The stock has a market cap of $2.54 billion, a P/E ratio of 49.80 and a beta of 3.95. The company has a quick ratio of 9.51, a current ratio of 9.51 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $220.53 and its two-hundred day moving average price is $154.95. Dave has a twelve month low of $31.75 and a twelve month high of $286.45.

Dave declared that its Board of Directors has approved a share repurchase program on Wednesday, August 13th that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the fintech company to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Dave

In other news, Director Yadin Rozov sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $206.94, for a total transaction 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 trade represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason Wilk sold 172,667 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were 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. This trade represents a 43.38% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 294,960 shares of company stock valued at $62,575,325. Company insiders own 28.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. WealthCollab LLC bought a new stake in Dave in the 2nd quarter worth $30,000. Nisa Investment Advisors LLC boosted its holdings in shares of Dave by 4,933.3% during the second quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock worth $41,000 after purchasing an additional 148 shares during the period. KBC Group NV bought a new stake in shares of Dave in the second quarter worth about $85,000. Catalyst Capital Advisors LLC purchased a new position in Dave during the 2nd quarter valued at about $141,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in Dave during the 2nd quarter valued at about $208,000. 18.01% of the stock is owned by hedge funds and other institutional investors.

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.