Dave (NASDAQ:DAVE) Upgraded to Hold at Freedom Capital

Freedom Capital upgraded shares of Dave (NASDAQ:DAVE) to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. Benchmark upped their target price on shares of Dave from $345.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Evercore assumed coverage on Dave in a research report on Wednesday, May 27th. They set a “hold” rating and a $260.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on Dave from $340.00 to $485.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Citizens Jmp upped their price target on Dave from $365.00 to $450.00 and gave the stock a “market outperform” rating in a report on Thursday, July 9th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $332.00 price objective on shares of Dave in a research note on Wednesday, May 6th. One 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 company. According to data from MarketBeat, Dave presently has a consensus rating of “Moderate Buy” and an average target price of $379.40.

Dave Stock Performance

NASDAQ DAVE opened at $372.69 on Thursday. The company has a market cap of $4.74 billion, a P/E ratio of 23.97 and a beta of 3.82. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.86 and a quick ratio of 3.86. The stock has a 50-day moving average of $343.41 and a two-hundred day moving average of $254.46. Dave has a 1-year low of $152.21 and a 1-year high of $458.25.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.78. Dave had a net margin of 37.22% and a return on equity of 77.70%. The company had revenue of $158.41 million for the quarter, compared to analyst estimates of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, analysts anticipate that Dave will post 15.66 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dan Preston sold 275 shares of Dave stock in a transaction on Thursday, June 4th. The shares were 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 of the company’s stock, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason Wilk sold 8,474 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the transaction, the chief executive officer owned 299,950 shares of the company’s stock, valued at approximately $82,501,247.50. The trade was a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 28.48% of the stock is currently owned by company insiders.

Institutional Trading of Dave

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of Dave by 819.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company’s stock valued at $41,666,000 after purchasing an additional 186,273 shares during the period. Jefferies Financial Group Inc. acquired a new position in Dave during the fourth quarter worth approximately $27,874,000. Wellington Management Group LLP increased its position in Dave by 200.7% during the third quarter. Wellington Management Group LLP now owns 177,103 shares of the fintech company’s stock worth $35,305,000 after buying an additional 118,203 shares during the period. Estuary Capital Management LP purchased a new stake in Dave in the first quarter valued at approximately $20,556,000. Finally, Renaissance Technologies LLC lifted its stake in 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. Institutional investors and hedge funds own 18.01% of the company’s stock.

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.