Dave (NASDAQ:DAVE) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Dave Inc. (NASDAQ:DAVE)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $217.58 and traded as high as $238.09. Dave shares last traded at $236.60, with a volume of 229,769 shares.

Analyst Ratings Changes

DAVE has been the topic of a number of research analyst reports. Wall Street Zen raised Dave from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. JMP Securities set a $310.00 price objective on Dave in a research note on Wednesday, November 5th. Zacks Research raised Dave from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Dave in a report on Monday, December 29th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $290.00 target price on shares of Dave in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $304.25.

Dave Stock Up 0.8%

The firm has a 50 day moving average price of $215.66 and a 200-day moving average price of $217.58. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.19 billion, a PE ratio of 23.45 and a beta of 3.90.

Dave (NASDAQ:DAVE) last released its earnings results on Tuesday, November 4th. The fintech company reported $4.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $1.95. The firm had revenue of $150.73 million for the quarter, compared to analyst estimates of $153.09 million. Dave had a net margin of 29.85% and a return on equity of 65.86%. Research analysts forecast that Dave Inc. will post 1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Imran Khan sold 1,146 shares of Dave stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $204.00, for a total transaction of $233,784.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason Wilk sold 7,393 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $203.77, for a total transaction of $1,506,471.61. Following the transaction, the chief executive officer owned 210,461 shares of the company’s stock, valued at approximately $42,885,637.97. The trade was a 3.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 105,164 shares of company stock worth $20,700,863 over the last 90 days. Company insiders own 28.48% of the company’s stock.

Institutional Investors Weigh In On Dave

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

Dave Company Profile

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave’s offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.