Key Points
- Director Dan Preston sold 275 shares of Dave on June 4 at $247.65 each, reducing his stake by about 4.79% to 5,466 shares. The transaction was disclosed in an SEC filing.
- Dave stock was up 4.7% and opened at $270.29, with the shares trading between a 52-week low of $152.21 and a high of $293.90. The company now has a market cap of $3.44 billion.
- Dave reported strong quarterly results, posting EPS of $3.64 versus estimates of $2.86 and revenue of $158.41 million versus expectations of $153.67 million. The company also authorized a $300 million share repurchase program and received mostly bullish analyst ratings.
Dave Inc. (NASDAQ:DAVE - Get Free Report) Director Dan Preston sold 275 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $247.65, for a total value of $68,103.75. Following the transaction, the director directly owned 5,466 shares in the company, valued at $1,353,654.90. This represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Dave Stock Up 4.7%
DAVE stock opened at $270.29 on Tuesday. The stock has a fifty day moving average of $235.79 and a 200-day moving average of $212.41. Dave Inc. has a fifty-two week low of $152.21 and a fifty-two week high of $293.90. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 17.38 and a beta of 3.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86.
Dave (NASDAQ:DAVE - Get Free Report) last announced its quarterly earnings data 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 business 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, equities research analysts predict that Dave Inc. will post 14.7 earnings per share for the current year.
Dave declared that its board has authorized a stock repurchase program on Monday, March 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the fintech company to buy up to 11.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several research firms recently commented on DAVE. UBS Group started coverage on shares of Dave in a report on Tuesday, May 26th. They issued a "buy" rating and a $300.00 price objective for the company. Weiss Ratings raised shares of Dave from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. B. Riley Financial increased their target price on Dave from $358.00 to $370.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Canaccord Genuity Group raised their price target on Dave from $328.00 to $342.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Wall Street Zen cut Dave from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $323.40.
View Our Latest Analysis on Dave
Institutional Investors Weigh In On Dave
Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Dave by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company's stock worth $2,412,000 after buying an additional 65 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Dave in the 2nd quarter valued at about $324,000. Invesco Ltd. boosted its position in shares of Dave by 2,379.9% during the 2nd quarter. Invesco Ltd. now owns 97,485 shares of the fintech company's stock valued at $26,166,000 after acquiring an additional 93,554 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Dave during the second quarter worth about $18,710,000. Finally, Cresset Asset Management LLC purchased a new position in shares of Dave during the second quarter worth about $402,000. Institutional investors own 18.01% of the company's stock.
About Dave
(
Get Free Report)
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.
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