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

Dave Inc. (NASDAQ:DAVE) reached a new 52-week high on Monday . The stock traded as high as $355.99 and last traded at $353.5650, with a volume of 19283 shares changing hands. The stock had previously closed at $348.71.

Wall Street Analyst Weigh In

DAVE has been the topic of a number of research reports. Lake Street Capital restated a “buy” rating and set a $332.00 price objective on shares of Dave in a research report on Wednesday, May 6th. UBS Group began coverage on Dave in a research report on Tuesday, May 26th. They issued a “buy” rating and a $300.00 target price for the company. Barrington Research lifted their price target on Dave from $290.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, June 12th. Wall Street Zen cut Dave from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Weiss Ratings raised Dave from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $325.40.

Dave Price Performance

The stock has a market cap of $4.52 billion, a P/E ratio of 23.06 and a beta of 3.87. The company’s 50 day moving average price is $269.89 and its 200-day moving average price is $222.34. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95.

Dave (NASDAQ:DAVE) last issued its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 earnings per share 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 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, sell-side analysts expect that Dave Inc. will post 15.44 earnings per share for the current year.

Dave declared that its Board of Directors has approved a stock buyback program on Monday, March 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the fintech company to repurchase up to 11.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Dave news, 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 value of $2,330,773.70. Following the sale, the chief executive officer owned 299,950 shares in the company, valued at approximately $82,501,247.50. The trade was a 2.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dan Preston sold 275 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $247.65, for a total value of $68,103.75. Following the completion of the sale, the director owned 5,466 shares in the company, valued at $1,353,654.90. This trade represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 28.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dave

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WealthCollab LLC acquired a new stake in Dave during the 2nd quarter valued at approximately $30,000. National Bank of Canada FI acquired a new position in shares of Dave in the 3rd quarter worth approximately $30,000. Blue Trust Inc. lifted its position in shares of Dave by 106.8% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock worth $34,000 after purchasing an additional 79 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Dave in the 4th quarter valued at $36,000. Finally, Westend Capital Management LLC boosted its stake in shares of Dave by 100.0% in the 4th quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. 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.