Brokerages Set Dave Inc. (NASDAQ:DAVE) Price Target at $274.13

Shares of Dave Inc. (NASDAQ:DAVE) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $274.1250.

Several analysts have recently commented on DAVE shares. Weiss Ratings restated a “hold (c+)” rating on shares of Dave in a research note on Wednesday. JMP Securities increased their price target on shares of Dave from $280.00 to $300.00 and gave the stock a “market outperform” rating in a report on Friday, September 26th. Citigroup reaffirmed an “outperform” rating on shares of Dave in a report on Thursday, August 7th. Wall Street Zen cut Dave from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Benchmark reissued a “buy” rating and issued a $320.00 price target on shares of Dave in a report on Wednesday, October 1st.

Insiders Place Their Bets

In other news, CEO Jason Wilk sold 81,693 shares of the company’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $230.28, for a total transaction of $18,812,264.04. Following the transaction, the chief executive officer directly owned 217,854 shares of the company’s stock, valued at $50,167,419.12. This represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Yadin Rozov sold 4,726 shares of the firm’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 completion of the sale, the director owned 75,197 shares of the company’s stock, valued at $17,149,427.82. This trade represents a 5.91% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 226,943 shares of company stock worth $50,301,987. Corporate insiders own 28.48% of the company’s stock.

Hedge Funds Weigh In On Dave

Several hedge funds have recently bought and sold shares of DAVE. Geode Capital Management LLC boosted its position in Dave by 14.6% during the second quarter. Geode Capital Management LLC now owns 207,773 shares of the fintech company’s stock worth $55,774,000 after purchasing an additional 26,515 shares in the last quarter. Voya Investment Management LLC grew its stake in Dave by 5,603.0% in the 3rd quarter. Voya Investment Management LLC now owns 144,285 shares of the fintech company’s stock valued at $28,763,000 after acquiring an additional 141,755 shares during the last quarter. Invesco Ltd. increased its holdings in Dave by 2,379.9% during the 2nd quarter. Invesco Ltd. now owns 97,485 shares of the fintech company’s stock valued at $26,166,000 after acquiring an additional 93,554 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Dave by 14,074.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 84,766 shares of the fintech company’s stock valued at $22,752,000 after acquiring an additional 84,168 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Dave by 173.0% during the second quarter. Qube Research & Technologies Ltd now owns 82,410 shares of the fintech company’s stock worth $22,120,000 after acquiring an additional 52,218 shares during the last quarter. 18.01% of the stock is owned by hedge funds and other institutional investors.

Dave Price Performance

Shares of NASDAQ DAVE opened at $206.67 on Tuesday. The stock has a fifty day moving average price of $209.35 and a 200 day moving average price of $182.78. Dave has a 1-year low of $37.44 and a 1-year high of $286.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 9.51 and a quick ratio of 9.51. The company has a market cap of $2.79 billion, a PE ratio of 54.67 and a beta of 3.88.

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

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.