Brokerages Set Dave Inc (NASDAQ:DAVE) Target Price at $189.00

Shares of Dave Inc (NASDAQ:DAVE) have been given an average recommendation of “Buy” by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $189.00.

Several brokerages have recently issued reports on DAVE. Benchmark lifted their target price on shares of Dave from $202.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Canaccord Genuity Group lifted their target price on shares of Dave from $130.00 to $179.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Dave from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Barrington Research lifted their target price on shares of Dave from $90.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Lake Street Capital lifted their target price on shares of Dave from $118.00 to $177.00 and gave the company a “buy” rating in a research report on Friday, May 9th.

Dave Stock Up 5.9%

DAVE stock opened at $221.55 on Wednesday. The firm has a market cap of $2.96 billion, a PE ratio of 70.78 and a beta of 3.93. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.81 and a current ratio of 6.81. The firm’s fifty day moving average is $134.52 and its 200 day moving average is $107.20. Dave has a one year low of $28.31 and a one year high of $222.17.

Dave (NASDAQ:DAVE) last released its quarterly earnings results on Thursday, May 8th. The fintech company reported $1.97 EPS for the quarter, beating the consensus estimate of $0.82 by $1.15. Dave had a net margin of 12.92% and a return on equity of 17.16%. On average, research analysts forecast that Dave will post 1.07 EPS for the current year.

Dave declared that its board has authorized a stock buyback program on Monday, March 10th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the fintech company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Dave

In other news, Director Yadin Rozov sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $206.94, for a total value of $1,138,170.00. Following the transaction, the director now directly owns 95,678 shares of the company’s stock, valued at approximately $19,799,605.32. This trade represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 28.48% of the company’s stock.

Hedge Funds Weigh In On Dave

A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC purchased a new position in Dave Inc (NASDAQ:DAVE) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,179 shares of the fintech company’s stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned approximately 0.33% of Dave at the end of the most recent quarter. Institutional investors own 18.01% of the company’s stock.

About Dave

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.