Dave (NASDAQ:DAVE) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Dave (NASDAQ:DAVE) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also weighed in on the stock. Evercore assumed coverage on shares of Dave in a research report on Wednesday, May 27th. They issued a “hold” rating and a $260.00 price objective for the company. UBS Group raised their target price on shares of Dave from $300.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Loop Capital assumed coverage on shares of Dave in a research note on Wednesday, September 9th. They issued a “buy” rating and a $500.00 target price for the company. Freedom Capital raised Dave to a “hold” rating in a research note on Thursday, July 30th. Finally, Piper Sandler started coverage on Dave in a report on Monday, August 17th. They set an “overweight” rating and a $390.00 price objective on the stock. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Dave presently has an average rating of “Moderate Buy” and a consensus price target of $433.25.

Dave Trading Down 5.2%

DAVE opened at $337.82 on Friday. The business’s 50 day moving average is $374.76 and its two-hundred day moving average is $298.04. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 21.91 and a beta of 3.83. Dave has a 52 week low of $152.21 and a 52 week high of $458.25. 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 issued its quarterly 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 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 77.46% and a net margin of 34.58%.Dave has set its FY 2026 guidance at 17.000-17.500 EPS. On average, research analysts predict that Dave will post 13.35 EPS for the current year.

Hedge Funds Weigh In On Dave

Hedge funds have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky lifted its holdings in 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 worth $1,440,000 after acquiring an additional 3,971 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Dave during the first quarter valued at approximately $1,835,000. Estuary Capital Management LP acquired a new stake in shares of Dave during the 1st quarter worth approximately $20,556,000. Inspire Investing LLC acquired a new stake in shares of Dave during the 1st quarter worth approximately $1,371,000. Finally, Royal Bank of Canada lifted its holdings in shares of Dave by 182.8% in the 1st quarter. Royal Bank of Canada now owns 10,590 shares of the fintech company’s stock worth $1,844,000 after purchasing an additional 6,845 shares during the last quarter. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Dave Company Profile

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.