Dave (NASDAQ:DAVE) Lowered to Hold Rating by Zacks Research

Dave (NASDAQ:DAVE) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages have also issued reports on DAVE. Evercore initiated coverage on Dave in a research note on Wednesday, May 27th. They set a “hold” rating and a $260.00 price target for the company. B. Riley Financial increased their price objective on Dave from $370.00 to $449.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Barrington Research raised their price objective on Dave from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, June 12th. Keefe, Bruyette & Woods boosted their target price on Dave from $485.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Lake Street Capital restated a “buy” rating and issued a $450.00 target price on shares of Dave in a research report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $412.90.

Dave Stock Performance

Dave stock opened at $310.00 on Monday. The firm’s fifty day moving average price is $357.92 and its 200-day moving average price is $263.27. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22. The stock has a market cap of $3.94 billion, a P/E ratio of 20.10 and a beta of 3.83. Dave has a fifty-two week low of $152.21 and a fifty-two week high of $458.25.

Dave (NASDAQ:DAVE) last posted its quarterly earnings data on Wednesday, August 5th. The fintech company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($2.95). Dave had a return on equity of 77.46% and a net margin of 34.58%.The company had revenue of $170.79 million for the quarter, compared to the consensus estimate of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. On average, equities research analysts expect that Dave will post 15.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dave news, CEO Jason Wilk sold 8,474 shares of the business’s stock in a transaction 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. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dan Preston sold 275 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $247.65, for a total transaction of $68,103.75. Following the sale, the director owned 5,466 shares of the company’s stock, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 23.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dave

A number of hedge funds and other institutional investors have recently modified their holdings of DAVE. Vanguard Group Inc. grew its position in Dave by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 685,839 shares of the fintech company’s stock worth $151,852,000 after acquiring an additional 30,546 shares during the last quarter. Renaissance Technologies LLC increased its stake in Dave by 29.2% in the 4th quarter. Renaissance Technologies LLC now owns 499,100 shares of the fintech company’s stock worth $110,506,000 after purchasing an additional 112,700 shares during the period. Geode Capital Management LLC increased its stake in Dave by 31.1% in the 4th quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company’s stock worth $70,483,000 after purchasing an additional 75,576 shares during the period. Dimensional Fund Advisors LP lifted its position in Dave by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock valued at $44,069,000 after purchasing an additional 42,262 shares during the last quarter. Finally, State Street Corp lifted its position in Dave by 10.6% in the fourth quarter. State Street Corp now owns 233,163 shares of the fintech company’s stock valued at $51,625,000 after purchasing an additional 22,274 shares during the last quarter. 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.