Dave (NASDAQ:DAVE) Trading Down 5.8% – What’s Next?

Dave Inc. (NASDAQ:DAVE)’s stock price traded down 5.8% during trading on Friday . The stock traded as low as $345.79 and last traded at $344.2050. Approximately 127,822 shares were traded during mid-day trading, a decline of 78% from the average session volume of 569,935 shares. The stock had previously closed at $365.26.

Key Stories Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Dave raised its full-year 2026 outlook to $725 million-$735 million in revenue and $17.00-$17.50 in adjusted diluted EPS, above analyst expectations of approximately $714.7 million and $16.36, respectively. The company plans to increase second-half marketing investment to support growth. Dave 2026 outlook article
• Positive Sentiment: Second-quarter revenue increased 30% year over year to $170.8 million, while adjusted EBITDA rose 48% to $75.5 million, representing a 44% margin. ExtraCash originations grew 27% to $2.3 billion, and the 28-day delinquency rate improved to 2.12%. Dave second-quarter results
• Positive Sentiment: Analysts raised their price targets following the results: Keefe, Bruyette & Woods increased its target to $490 and maintained an “outperform” rating; Citizens JMP raised its target to $475 with a “market outperform” rating; and B. Riley lifted its target to $449 and assigned a “buy” rating. KBW Dave price target Citizens JMP Dave forecast
• Neutral Sentiment: Management highlighted CashAI v6, higher ExtraCash limits, improved credit performance and increased marketing as key growth drivers. These investments could accelerate expansion but may also raise near-term operating costs. Dave earnings call highlights
• Negative Sentiment: Reported GAAP EPS was $0.49, below the $3.44 consensus cited by some data providers, and net income included $36.9 million in non-cash warrant and earnout remeasurement charges. Although adjusted EPS was reported at $4.12 by Zacks, the conflicting headline figures likely contributed to investor caution. Dave quarterly earnings article

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DAVE shares. Lake Street Capital reiterated a “buy” rating and set a $450.00 price objective on shares of Dave in a research note on Thursday. Citigroup reaffirmed an “outperform” rating on shares of Dave in a report on Thursday. Citizens Jmp lifted their price target on Dave from $450.00 to $475.00 and gave the company a “market outperform” rating in a research report on Thursday. Freedom Capital upgraded Dave to a “hold” rating in a research report on Thursday, July 30th. Finally, B. Riley Financial upped their price objective on Dave from $370.00 to $449.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $412.90.

Dave Stock Down 8.2%

The business’s 50 day moving average is $355.83 and its 200-day moving average is $260.65. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 21.73 and a beta of 3.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86.

Dave (NASDAQ:DAVE) last posted its quarterly earnings data on Wednesday, August 5th. The fintech company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $3.44 by ($2.95). The company had revenue of $170.79 million for the quarter, compared to analyst estimates of $171.11 million. Dave had a return on equity of 72.34% and a net margin of 34.58%.Dave has set its FY 2026 guidance at 17.000-17.500 EPS. On average, sell-side analysts predict that Dave Inc. will post 15.66 EPS for the current fiscal year.

Insider Activity

In other Dave news, Director Dan Preston sold 275 shares of the business’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 sale, the director directly owned 5,466 shares in the company, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason Wilk sold 8,474 shares of the 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 transaction, 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 position. The SEC filing for this sale provides additional information. 23.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Dave by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 685,839 shares of the fintech company’s stock valued at $151,852,000 after purchasing an additional 30,546 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Dave by 29.2% in the fourth quarter. Renaissance Technologies LLC now owns 499,100 shares of the fintech company’s stock valued at $110,506,000 after buying an additional 112,700 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Dave by 31.1% in the fourth quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company’s stock valued at $70,483,000 after buying an additional 75,576 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $44,069,000 after buying an additional 42,262 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Dave by 10.6% in the fourth quarter. State Street Corp now owns 233,163 shares of the fintech company’s stock worth $51,625,000 after buying an additional 22,274 shares in the last quarter. 18.01% of the stock is owned by institutional investors and hedge funds.

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.