Dave (NASDAQ:DAVE) Hits New 12-Month High – Should You Buy?

Dave Inc. (NASDAQ:DAVE)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $322.01 and last traded at $319.3170, with a volume of 36511 shares changing hands. The stock had previously closed at $314.44.

Analyst Ratings Changes

Several brokerages have issued reports on DAVE. Evercore started coverage on shares of Dave in a research report on Wednesday, May 27th. They set a “hold” rating and a $260.00 price objective on the stock. Lake Street Capital reaffirmed a “buy” rating and issued a $332.00 target price on shares of Dave in a report on Wednesday, May 6th. Canaccord Genuity Group increased their target price on shares of Dave from $328.00 to $342.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods raised their price target on Dave from $295.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Wall Street Zen cut Dave from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $325.40.

Dave Trading Down 1.6%

The business’s 50-day moving average is $257.56 and its two-hundred day moving average is $218.14. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86. The stock has a market capitalization of $3.93 billion, a PE ratio of 19.89 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 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.78. Dave had a net margin of 37.22% and a return on equity of 77.70%. The company had revenue of $158.41 million during the quarter, compared to the consensus estimate of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, equities research analysts anticipate that Dave Inc. will post 15.44 earnings per share for the current year.

Dave declared that its Board of Directors 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 purchase up to 11.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Dave

In other news, Director Dan Preston sold 275 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the completion of the transaction, the director directly owned 5,466 shares of the company’s stock, valued at approximately $1,353,654.90. This represents a 4.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jason Wilk sold 8,474 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total value 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 $82,501,247.50. This represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 28.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DAVE. JPMorgan Chase & Co. lifted its holdings in Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock valued at $2,412,000 after acquiring an additional 65 shares during the period. Prudential Financial Inc. purchased a new position in shares of Dave in the 2nd quarter valued at about $324,000. Invesco Ltd. lifted its stake in shares of Dave by 2,379.9% in the second quarter. Invesco Ltd. now owns 97,485 shares of the fintech company’s stock valued at $26,166,000 after purchasing an additional 93,554 shares during the period. First Trust Advisors LP acquired a new stake in shares of Dave in the second quarter valued at about $18,710,000. Finally, Cresset Asset Management LLC purchased a new stake in Dave during the second quarter worth about $402,000. Hedge funds and other institutional investors 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.