Dave Inc. (NASDAQ:DAVE) Receives $274.13 Average Target Price from Analysts

Dave Inc. (NASDAQ:DAVE) has been given an average rating of “Moderate Buy” by the eleven research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $274.1250.

Several brokerages have weighed in on DAVE. Citigroup reissued an “outperform” rating on shares of Dave in a report on Thursday, August 7th. JMP Securities raised their price objective 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Dave in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Dave from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Zacks Research lowered shares of Dave from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th.

Dave Price Performance

Shares of DAVE stock opened at $202.43 on Tuesday. The firm has a market cap of $2.73 billion, a P/E ratio of 53.55 and a beta of 3.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 9.51 and a quick ratio of 9.51. Dave has a 1-year low of $37.44 and a 1-year high of $286.45. The firm has a fifty day moving average of $207.74 and a two-hundred day moving average of $184.80.

Dave declared that its board has initiated a share buyback 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 repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Dave

In other news, Director Yadin Rozov sold 14,660 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $199.54, for a total value of $2,925,256.40. Following the transaction, the director directly owned 79,923 shares in the company, valued at approximately $15,947,835.42. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Imran Khan sold 39,534 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $223.13, for a total transaction of $8,821,221.42. Following the completion of the transaction, the director owned 79,110 shares in the company, valued at approximately $17,651,814.30. The trade was a 33.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,943 shares of company stock worth $50,301,987. 28.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. WealthCollab LLC bought a new position in shares of Dave in the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC lifted its position in Dave by 4,933.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock valued at $41,000 after purchasing an additional 148 shares during the last quarter. Team Financial Group LLC bought a new stake in Dave in the 3rd quarter valued at about $54,000. KBC Group NV bought a new stake in Dave in the 2nd quarter valued at about $85,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Dave in the 2nd quarter valued at about $141,000. 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.