Dave (NASDAQ:DAVE) Reaches New 1-Year High – Still a Buy?

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DAVE. Lake Street Capital reaffirmed a “buy” rating and set a $332.00 target price on shares of Dave in a research note on Wednesday, May 6th. Wall Street Zen lowered Dave from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Zacks Research upgraded Dave from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Citigroup reaffirmed an “outperform” rating on shares of Dave in a research report on Wednesday, May 6th. Finally, William Blair reiterated an “accumulate” rating on shares of Dave in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $323.40.

Dave Stock Down 4.6%

The company’s 50 day moving average price is $242.12 and its two-hundred day moving average price is $214.29. 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 stock has a market cap of $3.46 billion, a P/E ratio of 17.54 and a beta of 3.87.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.78. The company had revenue of $158.41 million for the quarter, compared to analysts’ expectations of $153.67 million. Dave had a return on equity of 77.70% and a net margin of 37.22%.Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, research 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 repurchase program on Monday, March 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the fintech company to reacquire up to 11.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Dave

In related news, Director Dan Preston sold 275 shares of Dave stock in a transaction dated 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 sale, the director directly owned 5,466 shares in the company, valued at $1,353,654.90. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jason Wilk sold 8,474 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the completion of the sale, the chief executive officer directly owned 299,950 shares of the company’s stock, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 28.48% of the company’s stock.

Hedge Funds Weigh In On Dave

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in 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 buying an additional 84,811 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Dave by 372.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,841 shares of the fintech company’s stock valued at $1,293,000 after acquiring an additional 4,604 shares during the period. Hudson Bay Capital Management LP bought a new position in shares of Dave in the 3rd quarter worth $1,826,000. Neuberger Berman Group LLC purchased a new stake in shares of Dave during the 3rd quarter worth $26,726,000. Finally, Azora Capital LP lifted its stake in shares of Dave by 87.9% during the 3rd quarter. Azora Capital LP now owns 133,242 shares of the fintech company’s stock worth $26,562,000 after purchasing an additional 62,318 shares during the last quarter. 18.01% of the stock is currently owned by institutional investors.

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.