Dave (NASDAQ:DAVE) Now Covered by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Dave with an “overweight” rating and a $480 price target, implying 26.73% upside from the prior close.
• Analyst sentiment is broadly positive: 14 analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $433.25.
• Dave shares traded at $378.75, while the company’s latest quarter included $170.79 million in revenue and $0.49 in earnings per share, below the consensus EPS estimate of $3.44.

Research analysts at JPMorgan Chase & Co. assumed coverage on shares of Dave (NASDAQ:DAVE - Get Free Report) in a note issued to investors on Tuesday, Benzinga reports. The brokerage set an "overweight" rating and a $480.00 price target on the fintech company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 26.73% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Research cut shares of Dave from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Benchmark increased their target price on shares of Dave from $345.00 to $475.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Freedom Capital upgraded shares of Dave to a "hold" rating in a report on Thursday, July 30th. Loop Capital started coverage on shares of Dave in a research report on Wednesday, September 9th. They issued a "buy" rating and a $500.00 price target on the stock. Finally, Citigroup reaffirmed an "outperform" rating on shares of Dave in a report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $433.25.

Dave Price Performance

Shares of DAVE stock traded up $12.96 during mid-day trading on Tuesday, hitting $378.75. 204,845 shares of the stock traded hands, compared to its average volume of 543,133. Dave has a twelve month low of $152.21 and a twelve month high of $458.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22. The company's 50-day simple moving average is $377.07 and its 200-day simple moving average is $293.96. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 24.60 and a beta of 3.83.

Dave (NASDAQ:DAVE - Get Free Report) last announced 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). Dave had a net margin of 34.58% and a return on equity of 77.46%. The firm had revenue of $170.79 million for the quarter, compared to the consensus estimate of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, equities research analysts expect that Dave will post 13.71 earnings per share for the current year.

Institutional Trading of Dave

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC boosted its holdings in shares of Dave by 277.4% in the second quarter. Tidal Investments LLC now owns 5,200 shares of the fintech company's stock worth $1,937,000 after buying an additional 3,822 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Dave in the second quarter worth approximately $447,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Dave during the second quarter valued at approximately $137,000. RFG Advisory LLC acquired a new stake in shares of Dave during the second quarter valued at approximately $1,146,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Dave in the 2nd quarter valued at approximately $907,000. Institutional investors and hedge funds own 18.01% of the company's stock.

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.

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