Dave Inc. [NASDAQ: DAVE] stock went on a downward path that fall over -2.80% on Tuesday, amounting to a one-week price decrease of less than -32.85%. The company report on June 2, 2022 that Dave Launches Cash Back Rewards to All Dave Spending Members.
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Dave rolls out rewards for everyday essentials, including a 10% promo on gas purchases, to help members combat inflation.
Over the last 12 months, DAVE stock dropped by -90.75%. The one-year Dave Inc. stock forecast points to a potential upside of 54.0. The average equity rating for DAVE stock is currently 3.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $432.12 million, with 371.99 million shares outstanding and 188.25 million shares in the current float. Compared to the average trading volume of 1.38M shares, DAVE stock reached a trading volume of 7509221 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Dave Inc. [DAVE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DAVE shares is $2.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DAVE stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Dave Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 25, 2022.
The Average True Range (ATR) for Dave Inc. is set at 0.31, with the Price to Sales ratio for DAVE stock in the period of the last 12 months amounting to 2.68. The Price to Book ratio for the last quarter was 1.96, with the Price to Cash per share for the same quarter was set at 0.64.
DAVE Stock Performance Analysis:
Dave Inc. [DAVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -32.85. With this latest performance, DAVE shares dropped by -67.94% in over the last four-week period, additionally sinking by -90.77% over the last 6 months – not to mention a drop of -90.75% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DAVE stock in for the last two-week period is set at 19.23, with the RSI for the last a single of trading hit 12.71, and the three-weeks RSI is set at 25.39 for Dave Inc. [DAVE]. The present Moving Average for the last 50 days of trading for this stock 3.4221, while it was recorded at 1.1033 for the last single week of trading, and 7.5521 for the last 200 days.
Insight into Dave Inc. Fundamentals:
Dave Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.40 and a Current Ratio set at 6.40.
Dave Inc. [DAVE] Insider Position Details
There are presently around $27 million, or 14.50% of DAVE stock, in the hands of institutional investors. The top three institutional holders of DAVE stocks are: TIGER GLOBAL MANAGEMENT LLC with ownership of 13,844,459, which is approximately New of the company’s market cap and around 33.70% of the total institutional ownership; CORBIN CAPITAL PARTNERS, L.P., holding 4,647,411 shares of the stock with an approximate value of $4.4 million in DAVE stocks shares; and BLACKROCK INC., currently with $2.18 million in DAVE stock with ownership of nearly New of the company’s market capitalization.
33 institutional holders increased their position in Dave Inc. [NASDAQ:DAVE] by around 23,026,775 shares. Additionally, 42 investors decreased positions by around 13,272,071 shares, while 2 investors held positions by with 8,129,979 shares. The mentioned changes placed institutional holdings at 28,168,867 shares, according to the latest SEC report filing. DAVE stock had 31 new institutional investments in for a total of 22,283,162 shares, while 34 institutional investors sold positions of 10,776,574 shares during the same period.