Dave Inc. (NASDAQ:DAVE) Receives $304.25 Consensus Price Target from Analysts

Dave Inc. (NASDAQ:DAVE) has received an average rating of “Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $304.25.

DAVE has been the subject of a number of recent analyst reports. Citizens Jmp raised their target price on Dave from $300.00 to $310.00 and gave the company a “market outperform” rating in a report on Wednesday, November 5th. Canaccord Genuity Group lifted their price objective on Dave from $229.00 to $274.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Benchmark reissued a “buy” rating on shares of Dave in a report on Tuesday. Barrington Research reissued an “outperform” rating and issued a $290.00 price objective on shares of Dave in a research note on Monday, November 3rd. Finally, Zacks Research upgraded shares of Dave from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th.

Insiders Place Their Bets

In other Dave news, CEO Jason Wilk sold 7,393 shares of the firm’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 completion of the transaction, the chief executive officer owned 210,461 shares of the company’s stock, valued at approximately $42,885,637.97. This trade represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Imran Khan sold 1,146 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $204.00, for a total value of $233,784.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 105,164 shares of company stock worth $20,700,863. 28.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Dave

Institutional investors have recently modified their holdings of the company. Divisadero Street Capital Management LP lifted its stake in shares of Dave by 73.1% during the 3rd quarter. Divisadero Street Capital Management LP now owns 925,266 shares of the fintech company’s stock worth $184,452,000 after purchasing an additional 390,676 shares during the period. Ameriprise Financial Inc. grew its holdings in Dave by 819.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company’s stock valued at $41,666,000 after buying an additional 186,273 shares during the period. Voya Investment Management LLC increased its stake in shares of Dave by 5,603.0% during 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. Neuberger Berman Group LLC purchased a new position in shares of Dave during the 3rd quarter worth about $26,726,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Dave by 200.7% during the 3rd quarter. Wellington Management Group LLP now owns 177,103 shares of the fintech company’s stock worth $35,305,000 after acquiring an additional 118,203 shares during the period. Institutional investors and hedge funds own 18.01% of the company’s stock.

Trending Headlines about Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Brokerage consensus rating of “Buy” — Multiple brokerages give DAVE a consensus Buy, which can support investor demand and help justify the stock’s strength. Read More.
• Positive Sentiment: Recent quarterly results remain supportive — Dave reported a sizable EPS beat (reported $4.24 vs. $2.29 est.), strong margins and ROE, which underpin current valuation and investor confidence despite revenue roughly in line with estimates. Read More.
• Neutral Sentiment: Technical/volume-driven move flagged by Zacks — Zacks notes DAVE saw a jump on above-average volume recently, but their review of earnings-estimate revisions doesn’t suggest clear additional upside from analysts, implying the move may be momentum-driven rather than fundamentals-driven. Read More.
• Neutral Sentiment: Obituaries about “Dave’s Markets”/Burt Saltzman — Multiple outlets report the death of the patriarch of Dave’s Markets/Lucky’s Market. This concerns a regional grocery operator and not Dave Inc. (the fintech). Expect possible name-related headline noise but no operational impact on DAVE. Read More. | Read More.
• Neutral Sentiment: Other “Dave”-related consumer/personal-finance stories — Items about Dave Ramsey and unrelated cultural stories (e.g., Dave Mustaine) appear in the feed but have no bearing on Dave Inc.’s business or outlook. Read More.

Dave Trading Up 1.0%

Shares of Dave stock opened at $194.01 on Thursday. The company has a quick ratio of 8.69, a current ratio of 8.69 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 19.23 and a beta of 3.90. Dave has a 52-week low of $65.46 and a 52-week high of $286.45. The company’s 50-day simple moving average is $212.09 and its 200-day simple moving average is $215.93.

Dave (NASDAQ:DAVE) last released 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 company had revenue of $150.73 million for the quarter, compared to analysts’ expectations of $153.09 million. Dave had a return on equity of 65.86% and a net margin of 29.85%. As a group, equities research analysts anticipate that Dave will post 1.07 earnings per share for the current year.

About Dave

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.