Dave (NASDAQ:DAVE) Shares Gap Up – Still a Buy?

Dave Inc. (NASDAQ:DAVE)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $213.13, but opened at $222.68. Dave shares last traded at $222.1450, with a volume of 90,780 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DAVE. B. Riley reaffirmed a “buy” rating and issued a $297.00 price target (up previously from $277.00) on shares of Dave in a research report on Wednesday, November 5th. Zacks Research upgraded shares of Dave from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. set a $300.00 target price on shares of Dave in a report on Friday, September 26th. Weiss Ratings cut shares of Dave from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Barrington Research reissued an “outperform” rating and set a $290.00 price target on shares of Dave in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $304.25.

Dave Price Performance

The company has a quick ratio of 8.69, a current ratio of 8.69 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average price is $219.06 and its two-hundred day moving average price is $215.52. The stock has a market capitalization of $2.99 billion, a PE ratio of 21.90 and a beta of 3.89.

Dave (NASDAQ:DAVE) last posted its quarterly earnings data on Tuesday, November 4th. The fintech company reported $4.24 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $153.09 million. Dave has set its FY 2025 guidance at EPS. On average, equities analysts predict that Dave Inc. will post 1.07 earnings per share for the current year.

Dave announced that its Board of Directors has initiated a share buyback program on Wednesday, August 13th that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the fintech company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Dave

In other news, CEO Jason Wilk sold 81,693 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $230.28, for a total transaction of $18,812,264.04. Following the sale, the chief executive officer directly owned 217,854 shares of the company’s stock, valued at $50,167,419.12. This represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Imran Khan sold 39,534 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $223.13, for a total transaction of $8,821,221.42. Following the sale, the director directly owned 79,110 shares in the company, valued at approximately $17,651,814.30. The trade was a 33.32% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 226,943 shares of company stock worth $50,301,987. 28.48% of the stock is owned by corporate insiders.

Institutional Trading of Dave

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Great Lakes Advisors LLC bought a new stake in shares of Dave during the 1st quarter worth approximately $3,487,000. Pallas Capital Advisors LLC purchased a new stake in Dave in the second quarter worth $227,000. Baader Bank Aktiengesellschaft purchased a new stake in Dave in the second quarter worth $591,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Dave during the second quarter worth $656,000. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Dave during the second quarter worth $621,000. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Dave Company Profile

Dave, Inc is a digital banking service. Its products include a budgeting tool to help members manage their upcoming bills to avoid overspending, cash advances through its flagship ExtraCash product to help members avoid punitive overdraft fees, a Side Hustle product, where Dave helps connect members with supplemental work opportunities, and Dave Banking, a modern checking account experience with valuable tools for building long-term financial health.