Dave Inc. (NASDAQ:DAVE) Receives $312.13 Average Target Price from Analysts

Dave Inc. (NASDAQ:DAVE) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $312.1250.

DAVE has been the subject of a number of research reports. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price objective on shares of Dave in a research note on Monday, March 2nd. Zacks Research raised Dave from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. B. Riley Financial raised their target price on Dave from $297.00 to $303.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Wall Street Zen downgraded Dave from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Dave from $250.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd.

Key Stories Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Company priced a $175M 0% convertible senior notes offering and will use net proceeds to repurchase about 334,000 shares (~$70.5M) and to fund capped calls that limit dilution — this is supportive of near-term EPS/price support. Convertible Notes & Repurchase Release
• Positive Sentiment: Multiple brokerages raised price targets and issued upgrades in recent days (including Keefe, Lake Street, B. Riley, Canaccord), and third‑party coverage shows a consensus “Moderate Buy” — analysts expect upside versus current levels. Analyst Coverage Summary
• Positive Sentiment: Company reiterated/expanded share repurchase activity (public reports of a broader buyback program), signaling management intent to support the stock. Buyback Announcement
• Neutral Sentiment: Management entered capped call transactions that raise the effective conversion premium to 100% — these reduce dilution risk on conversion but include a high cap price (limits upside benefit to holders). Capped Call Details
• Negative Sentiment: The convertible notes increase the company’s debt obligations (0% coupons but senior unsecured debt) and create potential future dilution if conversion occurs; some investors view financing via convertibles and buybacks as a trade-off vs. investing in growth. Convertible Offering Analysis
• Negative Sentiment: Material insider selling has been reported (numerous open-market sales and no insider purchases in the period cited), which can worry investors about insiders’ sentiment on near-term upside. Insider Activity Details
• Neutral Sentiment: Short-interest reports in the feed show no meaningful, reliable short data (entries list zeros/NaN), so short-squeeze risk appears minimal based on available figures but treat these data as noisy.

Insider Activity at Dave

In other news, Director Imran Khan sold 33,270 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $199.34, for a total transaction of $6,632,041.80. Following the sale, the director owned 2,110 shares of the company’s stock, valued at approximately $420,607.40. This represents a 94.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 97,771 shares of company stock valued at $19,194,391 in the last three months. Insiders own 28.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Divisadero Street Capital Management LP grew its stake in 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 in the last quarter. Ameriprise Financial Inc. raised its position 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 purchasing an additional 186,273 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Dave by 5,603.0% in the 3rd quarter. Voya Investment Management LLC now owns 144,285 shares of the fintech company’s stock valued at $28,763,000 after buying an additional 141,755 shares during the period. Neuberger Berman Group LLC purchased a new position in shares of Dave in the 3rd quarter valued at about $26,726,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Dave during the fourth quarter worth about $27,874,000. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

Dave Stock Down 0.4%

Shares of NASDAQ DAVE opened at $217.33 on Friday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 16.10 and a beta of 3.86. Dave has a 52-week low of $65.46 and a 52-week high of $286.45. The business’s 50 day moving average is $193.29 and its two-hundred day moving average is $207.07.

Dave announced that its board has initiated a share buyback program on Monday, March 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the fintech company to purchase up to 11.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.