Dave (NASDAQ:DAVE) Sets New 12-Month High – Here’s Why

Dave Inc. (NASDAQ:DAVE)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $301.19 and last traded at $262.2120, with a volume of 187538 shares. The stock had previously closed at $285.43.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DAVE shares. William Blair restated an “accumulate” rating on shares of Dave in a report on Friday, March 13th. Citizens Jmp increased their target price on shares of Dave from $335.00 to $365.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Dave from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Benchmark reaffirmed a “buy” rating on shares of Dave in a report on Friday, May 29th. Finally, Keefe, Bruyette & Woods upped their price target on Dave from $295.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $323.40.

Dave Price Performance

The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95. The firm has a market cap of $3.46 billion, a PE ratio of 17.54 and a beta of 3.87. The stock has a 50 day moving average price of $242.12 and a two-hundred day moving average price of $214.29.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, beating the consensus estimate of $2.86 by $0.78. The firm had revenue of $158.41 million during the quarter, compared to analyst estimates of $153.67 million. Dave had a net margin of 37.22% and a return on equity of 77.70%. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, equities analysts expect that Dave Inc. will post 14.7 earnings per share for the current year.

Dave declared that its board has initiated a share buyback program on Monday, March 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the fintech company to buy up to 11.2% 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 Buying and Selling at Dave

In related news, CEO Jason Wilk sold 8,474 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total value of $2,330,773.70. Following the transaction, the chief executive officer directly owned 299,950 shares of the company’s stock, valued at $82,501,247.50. This represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dan Preston sold 275 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total value of $68,103.75. Following the completion of the transaction, the director owned 5,466 shares of the company’s stock, valued at $1,353,654.90. This trade represents a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 28.48% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock worth $2,412,000 after purchasing an additional 65 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Dave in the second quarter valued at approximately $324,000. Invesco Ltd. increased its holdings in Dave by 2,379.9% in the 2nd quarter. Invesco Ltd. now owns 97,485 shares of the fintech company’s stock worth $26,166,000 after buying an additional 93,554 shares during the period. First Trust Advisors LP acquired a new position in Dave in the 2nd quarter worth approximately $18,710,000. Finally, Cresset Asset Management LLC purchased a new position in Dave during the 2nd quarter worth approximately $402,000. 18.01% of the stock is owned by institutional investors and hedge funds.

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.