Dave (NASDAQ:DAVE) Rating Increased to Strong-Buy at Loop Capital

Key Points

• Loop Capital upgraded Dave to “strong buy,” joining a broadly positive analyst consensus. Dave has an average “moderate buy” rating and a consensus price target of $418.25.
• Dave shares opened at $361.88 and were down 3.9%, with the stock trading between a 52-week range of $152.21 to $458.25. The company reported quarterly revenue of $170.79 million, slightly below estimates, while EPS of $0.49 missed the $3.44 consensus.
• Institutional ownership stands at 18.01%, with several funds recently initiating or increasing positions, including Estuary Capital Management and Royal Bank of Canada.

Dave (NASDAQ:DAVE - Get Free Report) was upgraded by equities researchers at Loop Capital to a "strong-buy" rating in a research report issued on Wednesday, Zacks reports.

DAVE has been the subject of a number of other research reports. Citizens Jmp raised their price objective on Dave from $450.00 to $475.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 6th. Citigroup reaffirmed an "outperform" rating on shares of Dave in a report on Thursday, August 6th. UBS Group lifted their price target on Dave from $300.00 to $470.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Evercore began coverage on Dave in a report on Wednesday, May 27th. They set a "hold" rating and a $260.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their target price on shares of Dave from $485.00 to $490.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Dave currently has an average rating of "Moderate Buy" and a consensus price target of $418.25.

Dave Trading Down 3.9%

NASDAQ:DAVE opened at $361.88 on Wednesday. The stock has a market cap of $4.62 billion, a PE ratio of 23.47 and a beta of 3.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.22 and a quick ratio of 4.22. The stock's 50-day moving average is $378.99 and its two-hundred day moving average is $289.99. Dave has a fifty-two week low of $152.21 and a fifty-two week high of $458.25.

Dave (NASDAQ:DAVE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.44 by ($2.95). The firm had revenue of $170.79 million for the quarter, compared to analyst estimates of $171.11 million. Dave had a net margin of 34.58% and a return on equity of 77.46%. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, equities research analysts forecast that Dave will post 13.71 earnings per share for the current fiscal year.

Institutional Trading of Dave

Several hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky grew its position 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 valued at $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 in the first quarter worth about $1,835,000. Estuary Capital Management LP bought a new position in shares of Dave in the first quarter worth about $20,556,000. Inspire Investing LLC bought a new position in shares of Dave in the first quarter worth about $1,371,000. Finally, Royal Bank of Canada boosted its stake 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 valued at $1,844,000 after purchasing an additional 6,845 shares in the last quarter. 18.01% of the stock is owned by institutional investors and hedge funds.

About Dave

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.

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