Dave (NASDAQ:DAVE) Shares Down 6.8% – Time to Sell?

Dave Inc. (NASDAQ:DAVE)’s share price dropped 6.8% during trading on Wednesday. The stock traded as low as $337.83 and last traded at $329.4970. Approximately 31,827 shares changed hands during trading, a decline of 94% from the average session volume of 535,124 shares. The stock had previously closed at $353.57.

Wall Street Analyst Weigh In

DAVE has been the topic of several recent research reports. Lake Street Capital reiterated a “buy” rating and issued a $450.00 price objective on shares of Dave in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 16th. Wall Street Zen lowered shares of Dave from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. B. Riley Financial lifted their price target on Dave from $370.00 to $449.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, UBS Group boosted their price objective on Dave from $300.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Dave currently has a consensus rating of “Moderate Buy” and a consensus target price of $433.25.

Dave Trading Up 1.6%

The firm has a market capitalization of $4.23 billion, a P/E ratio of 21.49 and a beta of 3.83. The business’s 50 day moving average is $368.25 and its two-hundred day moving average is $302.31. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.93.

Dave (NASDAQ:DAVE) last announced its earnings results 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). The company had revenue of $170.79 million during the quarter, compared to the consensus estimate of $171.11 million. Dave had a net margin of 34.58% and a return on equity of 77.46%. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Analysts expect that Dave Inc. will post 12.9 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DAVE. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Dave by 92.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 8,273 shares of the fintech company’s stock valued at $1,440,000 after buying an additional 3,971 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Dave during the first quarter worth about $1,835,000. Estuary Capital Management LP bought a new stake in Dave in the first quarter worth about $20,556,000. Inspire Investing LLC bought a new stake in Dave in the first quarter worth about $1,371,000. Finally, Tidal Investments LLC lifted its holdings in Dave by 277.4% in the 2nd quarter. Tidal Investments LLC now owns 5,200 shares of the fintech company’s stock valued at $1,937,000 after acquiring an additional 3,822 shares during the last quarter. Institutional investors and hedge funds own 18.01% of the company’s stock.

About Dave

Dave Inc is a financial technology company that operates a digital banking platform designed to help consumers manage everyday finances. Through its mobile application, the company provides tools intended to support budgeting, spending, saving and access to short-term funds.

Dave’s products include Dave Spending, a spending account and debit card offering, as well as budgeting and automatic savings features. Its ExtraCash product provides eligible users with access to advances intended to help manage short-term cash needs.