Analysts Set Dave Inc. (NASDAQ:DAVE) PT at $304.25

Shares of Dave Inc. (NASDAQ:DAVE) have been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $304.25.

A number of equities analysts recently weighed in on the company. William Blair began coverage on Dave in a research report on Monday. They issued an “outperform” rating for the company. Lake Street Capital restated a “buy” rating on shares of Dave in a report on Wednesday, December 24th. Citigroup reaffirmed an “outperform” rating on shares of Dave in a research note on Wednesday, November 5th. JMP Securities set a $310.00 target price on shares of Dave in a research note on Wednesday, November 5th. Finally, Wall Street Zen upgraded Dave from a “hold” rating to a “buy” rating in a report on Saturday, February 7th.

Insider Transactions at Dave

In other Dave news, Director Imran Khan sold 1,146 shares of Dave stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $204.00, for a total transaction of $233,784.00. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 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 directly owned 210,461 shares of the company’s stock, valued at $42,885,637.97. This trade represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 105,164 shares of company stock valued at $20,700,863 over the last 90 days. Corporate insiders own 28.48% of the company’s stock.

Institutional Investors Weigh In On Dave

Institutional investors have recently modified their holdings of the stock. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Dave in the second quarter worth $359,000. Quadrature Capital Ltd lifted its position in Dave by 120.3% during the 2nd quarter. Quadrature Capital Ltd now owns 9,751 shares of the fintech company’s stock worth $2,615,000 after acquiring an additional 5,325 shares during the last quarter. Silver Oak Wealth Advisors Services LLC bought a new stake in Dave during the second quarter valued at about $501,000. Principal Financial Group Inc. grew its position in shares of Dave by 22.7% in the third quarter. Principal Financial Group Inc. now owns 67,792 shares of the fintech company’s stock valued at $13,514,000 after purchasing an additional 12,555 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Dave in the second quarter valued at about $913,000. Institutional investors and hedge funds own 18.01% of the company’s stock.

Dave Trading Up 4.2%

Dave stock opened at $177.28 on Monday. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 17.57 and a beta of 3.89. Dave has a 1 year low of $65.46 and a 1 year high of $286.45. The firm’s 50 day moving average price is $199.19 and its two-hundred day moving average price is $209.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.69 and a current ratio of 8.69.

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.