Dave (NASDAQ:DAVE) Given New $330.00 Price Target at Keefe, Bruyette & Woods

Dave (NASDAQ:DAVE) had its target price upped by research analysts at Keefe, Bruyette & Woods from $295.00 to $330.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the fintech company’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 21.03% from the stock’s previous close.

Several other brokerages have also recently issued reports on DAVE. Citigroup reaffirmed an “outperform” rating on shares of Dave in a report on Friday, April 10th. Citizens Jmp lifted their target price on Dave from $310.00 to $335.00 and gave the stock a “market outperform” rating in a report on Friday, April 10th. UBS Group reaffirmed a “neutral” rating on shares of Dave in a report on Friday, March 13th. Zacks Research raised Dave from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Finally, B. Riley Financial lifted their target price on Dave from $297.00 to $303.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Dave currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.63.

Dave Price Performance

NASDAQ:DAVE opened at $272.65 on Monday. The business’s 50-day simple moving average is $211.02 and its two-hundred day simple moving average is $208.40. The stock has a market cap of $3.70 billion, a PE ratio of 20.20 and a beta of 3.93. Dave has a 52 week low of $97.25 and a 52 week high of $287.69.

Dave declared that its Board of Directors has initiated a stock buyback plan on Monday, March 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the fintech company to reacquire up to 11.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DAVE. Divisadero Street Capital Management LP boosted its position in shares of Dave by 73.1% during the third quarter. Divisadero Street Capital Management LP now owns 925,266 shares of the fintech company’s stock valued at $184,452,000 after buying an additional 390,676 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Dave by 819.3% during the third quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company’s stock valued at $41,666,000 after buying an additional 186,273 shares during the period. Neuberger Berman Group LLC purchased a new position in shares of Dave during the third quarter valued at approximately $26,726,000. Jefferies Financial Group Inc. purchased a new position in shares of Dave during the fourth quarter valued at approximately $27,874,000. Finally, Wellington Management Group LLP boosted its position in shares of Dave by 200.7% during the third quarter. Wellington Management Group LLP now owns 177,103 shares of the fintech company’s stock valued at $35,305,000 after buying an additional 118,203 shares during the period. 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.