Dave (NASDAQ:DAVE) Hits New 1-Year High – Here’s Why

Dave Inc. (NASDAQ:DAVE)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $409.00 and last traded at $395.0190, with a volume of 35445 shares. The stock had previously closed at $396.00.

Dave News Summary

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Dave announced Gopi Kuchimanchi as its new Chief Technology Officer, a move that could support product development, platform scaling and AI/fintech execution. Dave Appoints Gopi Kuchimanchi as Chief Technology Officer
• Positive Sentiment: Analyst coverage highlighted Dave’s recent rally as being backed by raised guidance, improving credit trends, the Coastal funding deal and strong ExtraCash momentum, reinforcing the bullish case for the stock. Is Dave Stock a Buy, Hold or Sell After Its Recent Strong Rally?
• Positive Sentiment: Another Zacks piece said Dave’s ExtraCash business is still driving growth through higher originations, larger advances, record monetization and solid credit quality, suggesting the company’s core growth engine remains intact. Can Dave’s ExtraCash Growth Engine Keep Delivering?
• Neutral Sentiment: A separate article discussed whether Dave’s Flex Card can expand into everyday spending; the idea is potentially positive, but its impact depends on future credit performance and adoption. Can Dave’s Flex Card Capture More of Members’ Everyday Spending?

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group increased their price objective on Dave from $328.00 to $342.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings cut Dave from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Barrington Research boosted their target price on Dave from $290.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, June 12th. William Blair reaffirmed an “accumulate” rating on shares of Dave in a report on Friday, March 13th. Finally, Citizens Jmp upped their target price on Dave from $335.00 to $365.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Dave currently has an average rating of “Buy” and an average price target of $338.40.

Dave Price Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 3.86 and a quick ratio of 3.86. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 24.15 and a beta of 3.82. The stock’s fifty day moving average price is $288.33 and its 200-day moving average price is $232.68.

Dave (NASDAQ:DAVE) last posted 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 firm had revenue of $158.41 million during the quarter, compared to analyst estimates of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. Equities research analysts predict that Dave Inc. will post 15.44 EPS for the current fiscal year.

Insider Buying and Selling at Dave

In other Dave news, Director Dan Preston sold 275 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 5,466 shares in the company, valued at approximately $1,353,654.90. This trade represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jason Wilk sold 8,474 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total value of $2,330,773.70. Following the sale, the chief executive officer owned 299,950 shares of the company’s stock, valued at $82,501,247.50. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 28.48% of the company’s stock.

Institutional Investors Weigh In On Dave

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAVE. JPMorgan Chase & Co. boosted its stake in shares of Dave by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock valued at $2,412,000 after buying an additional 65 shares during the period. Prudential Financial Inc. acquired a new position in shares of Dave in the second quarter worth $324,000. Invesco Ltd. increased 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 worth $26,166,000 after acquiring an additional 93,554 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Dave during the second quarter worth $18,710,000. Finally, Cresset Asset Management LLC purchased a new stake in shares of Dave during the second quarter worth $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.