Dave Inc. (NASDAQ:DAVE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Dave Inc. (NASDAQ:DAVE) have earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $304.25.

A number of analysts have commented on the company. Barrington Research reissued an “outperform” rating and issued a $290.00 target price on shares of Dave in a report on Monday, November 3rd. Wall Street Zen raised Dave from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Benchmark boosted their target price on Dave from $320.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Citizens Jmp upped their target price on shares of Dave from $300.00 to $310.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. set a $300.00 price target on shares of Dave in a report on Friday, September 26th.

Dave Stock Performance

Shares of DAVE stock opened at $229.22 on Friday. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 22.72 and a beta of 3.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.69 and a current ratio of 8.69. Dave has a one year low of $65.46 and a one year high of $286.45. The company’s 50-day moving average is $217.24 and its 200 day moving average is $216.77.

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

Insider Activity at Dave

In related news, Director Imran Khan sold 1,146 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $204.00, for a total value of $233,784.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jason Wilk sold 7,393 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $203.77, for a total transaction of $1,506,471.61. Following the sale, the chief executive officer owned 210,461 shares of the company’s stock, valued at approximately $42,885,637.97. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 105,164 shares of company stock worth $20,700,863 in the last 90 days. 28.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dave

Hedge funds have recently modified their holdings of the business. WealthCollab LLC bought a new position in Dave in the 2nd quarter worth $30,000. National Bank of Canada FI purchased a new stake in Dave in the third quarter worth about $30,000. Nisa Investment Advisors LLC raised its stake in shares of Dave by 4,933.3% in the second quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock worth $41,000 after buying an additional 148 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Dave during the 3rd quarter valued at about $47,000. Finally, Team Financial Group LLC bought a new position in shares of Dave during the 3rd quarter valued at approximately $54,000. Institutional investors 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.