Dave (NASDAQ:DAVE) Sets New 52-Week High – Here’s Why

Dave Inc. (NASDAQ:DAVE) reached a new 52-week high on Tuesday . The company traded as high as $409.00 and last traded at $395.0190, with a volume of 35445 shares changing hands. The stock had previously closed at $396.00.

Wall Street Analyst Weigh In

DAVE has been the subject of several analyst reports. Canaccord Genuity Group raised their target price on Dave from $328.00 to $342.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods upped their price target on Dave from $295.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Lake Street Capital reissued a “buy” rating and issued a $332.00 price target on shares of Dave in a research note on Wednesday, May 6th. William Blair restated an “accumulate” rating on shares of Dave in a research report on Friday, March 13th. Finally, Citizens Jmp lifted their price objective on Dave from $335.00 to $365.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $338.40.

Dave Trading Down 2.1%

The company has a market cap of $4.93 billion, a price-to-earnings ratio of 24.88 and a beta of 3.82. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 0.95. The firm’s 50-day moving average price is $284.22 and its 200 day moving average price is $230.19.

Dave (NASDAQ:DAVE) last released its earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.78. The company had revenue of $158.41 million for the quarter, compared to the consensus estimate 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, equities analysts expect that Dave Inc. will post 15.44 EPS for the current year.

Insider Activity

In other news, CEO Jason Wilk sold 8,474 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the transaction, the chief executive officer owned 299,950 shares in the company, valued at approximately $82,501,247.50. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dan Preston sold 275 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the transaction, the director directly owned 5,466 shares in the company, valued at $1,353,654.90. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. 28.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dave

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in Dave by 2,267.1% during the 4th quarter. SG Americas Securities LLC now owns 88,552 shares of the fintech company’s stock valued at $19,606,000 after purchasing an additional 84,811 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Dave in the third quarter valued at $1,826,000. Pictet Asset Management Holding SA lifted its stake in shares of Dave by 372.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,841 shares of the fintech company’s stock valued at $1,293,000 after buying an additional 4,604 shares in the last quarter. Azora Capital LP grew its holdings in shares of Dave by 87.9% during the third quarter. Azora Capital LP now owns 133,242 shares of the fintech company’s stock valued at $26,562,000 after buying an additional 62,318 shares during the last quarter. Finally, Granahan Investment Management LLC acquired a new position in shares of Dave during the third quarter valued at about $2,400,000. Institutional investors and hedge funds own 18.01% of the company’s stock.

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.