Brokerages Set Dave Inc. (NASDAQ:DAVE) PT at $312.13

Shares of Dave Inc. (NASDAQ:DAVE) have been given an average recommendation of “Moderate Buy” by the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $312.1250.

A number of equities research analysts have recently weighed in on DAVE shares. William Blair restated an “accumulate” rating on shares of Dave in a report on Friday, March 13th. Benchmark reiterated a “buy” rating on shares of Dave in a research note on Tuesday, March 3rd. Canaccord Genuity Group boosted their target price on shares of Dave from $274.00 to $328.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Zacks Research raised shares of Dave from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Finally, UBS Group restated a “neutral” rating on shares of Dave in a research note on Friday, March 13th.

Dave Stock Performance

Dave stock opened at $172.70 on Tuesday. The stock has a 50-day moving average of $188.25 and a two-hundred day moving average of $205.99. Dave has a one year low of $65.46 and a one year high of $286.45. The stock has a market cap of $2.34 billion, a PE ratio of 12.79 and a beta of 3.81.

Dave announced that its Board of Directors has authorized a share repurchase plan on Monday, March 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the fintech company to purchase up to 11.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DAVE. WealthCollab LLC purchased a new stake in Dave in the second quarter valued at approximately $30,000. National Bank of Canada FI purchased a new position in Dave during the 3rd quarter worth approximately $30,000. Blue Trust Inc. raised its position in Dave by 106.8% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock worth $34,000 after buying an additional 79 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Dave during the 4th quarter valued at approximately $36,000. Finally, Westend Capital Management LLC boosted its holdings 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 acquiring an additional 100 shares during the last quarter. 18.01% of the stock is owned by institutional investors and hedge funds.

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.