Dave (NASDAQ:DAVE) Stock Gets Downgrade from Wall Street Zen

Dave (NASDAQ:DAVE) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Canaccord Genuity Group lifted their target price on Dave from $342.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Seaport Research Partners restated a “buy” rating and issued a $422.00 price objective on shares of Dave in a research note on Thursday, October 8th. JPMorgan Chase & Co. started coverage on shares of Dave in a research note on Tuesday, September 15th. They set an “overweight” rating and a $480.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their price target on shares of Dave from $485.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Dave has an average rating of “Moderate Buy” and a consensus price target of $433.25.

Dave Price Performance

Shares of NASDAQ:DAVE opened at $316.79 on Friday. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 20.54 and a beta of 4.07. Dave has a 12-month low of $152.21 and a 12-month high of $458.25. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $353.53 and a 200 day moving average price of $286.37.

Dave (NASDAQ:DAVE) last issued its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($2.95). The business had revenue of $170.79 million for the quarter, compared to analyst estimates of $171.11 million. Dave had a return on equity of 77.46% and a net margin of 34.58%. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Sell-side analysts expect that Dave will post 13.04 EPS for the current year.

Hedge Funds Weigh In On Dave

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of 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 period. Estuary Capital Management LP purchased a new stake in Dave during the first quarter worth $20,556,000. Cooper Creek Partners Management LLC acquired a new stake in shares of Dave during the first quarter worth $18,313,000. Sei Investments Co. boosted its holdings in Dave by 21.4% in the first quarter. Sei Investments Co. now owns 98,435 shares of the fintech company’s stock valued at $17,135,000 after purchasing an additional 17,320 shares during the last quarter. Finally, Globeflex Capital L P bought a new position in Dave in the second quarter worth about $11,403,000. 18.01% of the stock is currently owned by institutional investors.

About Dave

Dave Inc is a financial technology company that operates a digital banking platform in the United States. The company’s mobile app is designed to help members manage everyday finances, access funds between paychecks and build financial flexibility.

Its primary offerings include ExtraCash, an advance product intended to provide eligible members with access to a portion of their expected income, and Dave Spending, a debit account and associated payment card. Dave also provides budgeting tools, automated savings features through Dave Goals, and Side Hustle resources that help members identify potential ways to earn additional income.

Dave was founded in 2016 by Jason Wilk, who serves as chief executive officer.