Brokerages Set Dave Inc. (NASDAQ:DAVE) Target Price at $304.25

Dave Inc. (NASDAQ:DAVE) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $304.25.

A number of brokerages recently issued reports on DAVE. Lake Street Capital restated a “buy” rating on shares of Dave in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dave in a research note on Monday. Citigroup reissued an “outperform” rating on shares of Dave in a research report on Wednesday, November 5th. JPMorgan Chase & Co. set a $300.00 target price on shares of Dave in a research note on Friday, September 26th. Finally, Citizens Jmp upped their target price on shares of Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 5th.

Insider Buying and Selling at Dave

In other Dave news, CEO Jason Wilk sold 7,393 shares of the company’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 sale, the chief executive officer owned 210,461 shares in the company, valued at $42,885,637.97. This represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Imran Khan sold 33,270 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $199.34, for a total value of $6,632,041.80. Following the sale, the director directly owned 2,110 shares in the company, valued at $420,607.40. This trade represents a 94.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,164 shares of company stock worth $20,700,863 over the last 90 days. 28.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dave

A number of hedge funds have recently made changes to their positions in DAVE. Great Lakes Advisors LLC purchased a new stake in Dave in the first quarter valued at $3,487,000. Pallas Capital Advisors LLC purchased a new stake in shares of Dave in the second quarter worth about $227,000. Baader Bank Aktiengesellschaft acquired a new stake in Dave during the second quarter worth about $591,000. Wealth Enhancement Advisory Services LLC purchased a new position in Dave during the second quarter valued at approximately $656,000. Finally, Harbour Capital Advisors LLC acquired a new position in Dave in the second quarter valued at approximately $621,000. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

Dave Stock Up 3.1%

Shares of NASDAQ DAVE opened at $227.92 on Friday. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26. Dave has a 12-month low of $65.46 and a 12-month high of $286.45. The firm’s 50-day moving average price is $216.78 and its 200-day moving average price is $216.79. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 22.59 and a beta of 3.90.

Dave (NASDAQ:DAVE) last released its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 EPS for the quarter, topping the consensus estimate of $2.29 by $1.95. Dave had a return on equity of 65.86% and a net margin of 29.85%.The company had revenue of $150.73 million during the quarter, compared to analyst estimates of $153.09 million. On average, equities research analysts anticipate that Dave will post 1.07 EPS for the current fiscal year.

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.