Dave (NASDAQ:DAVE) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Dave Inc. (NASDAQ:DAVE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $217.58 and traded as high as $238.09. Dave shares last traded at $236.60, with a volume of 229,769 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on DAVE. B. Riley reissued a “buy” rating and issued a $297.00 price objective (up previously from $277.00) on shares of Dave in a research note on Wednesday, November 5th. Wall Street Zen raised Dave from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. set a $300.00 price objective on shares of Dave in a report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dave in a research note on Monday, December 29th. Finally, JMP Securities set a $310.00 target price on shares of Dave in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $304.25.

Dave Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.69 and a current ratio of 8.69. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 23.72 and a beta of 3.90. The firm’s 50-day moving average price is $215.66 and its 200 day moving average price is $217.67.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data on Tuesday, November 4th. The fintech company reported $4.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $1.95. The firm had revenue of $150.73 million for the quarter, compared to analysts’ expectations of $153.09 million. Dave had a net margin of 29.85% and a return on equity of 65.86%. On average, sell-side analysts anticipate that Dave Inc. will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other news, Director Imran Khan sold 1,146 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason Wilk sold 7,393 shares of the stock in a transaction that occurred 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 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 105,164 shares of company stock valued at $20,700,863. 28.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Dave

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Dave by 2,267.1% during the fourth quarter. SG Americas Securities LLC now owns 88,552 shares of the fintech company’s stock worth $19,606,000 after purchasing an additional 84,811 shares in the last quarter. Diversified Trust Co. raised its stake in Dave by 4.3% during the 4th quarter. Diversified Trust Co. now owns 2,853 shares of the fintech company’s stock worth $632,000 after buying an additional 117 shares during the period. Gryphon Financial Partners LLC acquired a new stake in Dave during the 4th quarter worth $222,000. Hudson Bay Capital Management LP bought a new position in Dave during the third quarter worth about $1,826,000. Finally, Harvest Investment Services LLC grew its stake in Dave by 102.1% in the third quarter. Harvest Investment Services LLC now owns 12,111 shares of the fintech company’s stock valued at $2,414,000 after acquiring an additional 6,118 shares during the period. 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.