Dave (NASDAQ:DAVE) Reaches New 12-Month High – Here’s Why

Dave Inc. (NASDAQ:DAVE)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $355.99 and last traded at $353.5650, with a volume of 19283 shares. The stock had previously closed at $348.71.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DAVE shares. Evercore assumed coverage on Dave in a report on Wednesday, May 27th. They issued a “hold” rating and a $260.00 price objective for the company. Benchmark lowered Dave from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Keefe, Bruyette & Woods raised their price target on Dave from $295.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings raised Dave from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 11th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $332.00 price objective on shares of Dave in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dave currently has an average rating of “Moderate Buy” and an average target price of $325.40.

Dave Price Performance

The firm has a market capitalization of $4.52 billion, a P/E ratio of 23.06 and a beta of 3.87. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $269.89 and its 200-day moving average is $222.34.

Dave (NASDAQ:DAVE) last released its earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.78. Dave had a return on equity of 77.70% and a net margin of 37.22%.The firm had revenue of $158.41 million during the quarter, compared to analysts’ expectations of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, sell-side analysts predict that Dave Inc. will post 15.44 EPS for the current fiscal year.

Dave announced that its Board of Directors has authorized a stock repurchase program on Monday, March 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the fintech company to purchase up to 11.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Dave news, Director Dan Preston sold 275 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the completion of the transaction, the director owned 5,466 shares of the company’s stock, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason Wilk sold 8,474 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the completion of the transaction, the chief executive officer directly owned 299,950 shares of the company’s stock, valued at $82,501,247.50. This trade represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 28.48% of the company’s stock.

Institutional Investors Weigh In On Dave

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prospect Capital Advisors LLC increased its position in Dave by 39.4% during the 1st quarter. Prospect Capital Advisors LLC now owns 52,240 shares of the fintech company’s stock worth $9,094,000 after purchasing an additional 14,760 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Dave during the first quarter worth $373,000. Janus Henderson Group PLC grew its stake in shares of Dave by 1.8% during the first quarter. Janus Henderson Group PLC now owns 12,805 shares of the fintech company’s stock worth $2,228,000 after buying an additional 230 shares during the last quarter. Amundi acquired a new position in shares of Dave during the first quarter worth $224,000. Finally, California State Teachers Retirement System increased its holdings in shares of Dave by 26.5% during the first quarter. California State Teachers Retirement System now owns 13,147 shares of the fintech company’s stock worth $2,289,000 after buying an additional 2,756 shares in the last quarter. 18.01% of the stock is owned by institutional investors.

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.