Dave (NASDAQ:DAVE) Sets New 12-Month High Following Analyst Upgrade

Dave Inc. (NASDAQ:DAVE) shares reached a new 52-week high on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $340.00 to $485.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Dave traded as high as $409.00 and last traded at $405.2730, with a volume of 287100 shares trading hands. The stock had previously closed at $400.75.

DAVE has been the topic of a number of other research reports. Lake Street Capital reaffirmed a “buy” rating and issued a $332.00 price target on shares of Dave in a report on Wednesday, May 6th. UBS Group assumed coverage on Dave in a report on Tuesday, May 26th. They set a “buy” rating and a $300.00 price objective for the company. B. Riley Financial raised their target price on Dave from $358.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Weiss Ratings lowered Dave from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Finally, Evercore began coverage on Dave in a research report on Wednesday, May 27th. They set a “hold” rating and a $260.00 price target on the stock. One 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 company. According to MarketBeat.com, Dave presently has an average rating of “Buy” and an average price target of $362.40.

Insider Activity

In related news, CEO Jason Wilk sold 8,474 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 299,950 shares of the company’s stock, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dan Preston sold 275 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 5,466 shares of the company’s stock, valued at approximately $1,353,654.90. This trade represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 28.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dave

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock valued at $2,412,000 after purchasing an additional 65 shares in the last quarter. Prudential Financial Inc. bought a new position in Dave in the 2nd quarter worth about $324,000. Invesco Ltd. grew its holdings in Dave by 2,379.9% during the 2nd quarter. Invesco Ltd. now owns 97,485 shares of the fintech company’s stock valued at $26,166,000 after buying an additional 93,554 shares in the last quarter. First Trust Advisors LP purchased a new position in Dave during the 2nd quarter valued at about $18,710,000. Finally, Cresset Asset Management LLC bought a new stake in shares of Dave during the second quarter valued at about $402,000. 18.01% of the stock is owned by institutional investors.

Dave Stock Performance

The stock has a market capitalization of $4.95 billion, a P/E ratio of 25.00 and a beta of 3.82. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average price of $293.43 and a two-hundred day moving average price of $235.20.

Dave (NASDAQ:DAVE) last released its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.78. The company had revenue of $158.41 million during the quarter, compared to analyst estimates of $153.67 million. Dave had a net margin of 37.22% and a return on equity of 77.70%. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. Equities analysts expect that Dave Inc. will post 15.45 earnings per share for the current year.

Dave Company Profile

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.