Dave (NASDAQ:DAVE) Stock Dropped to Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Dave from “hold” to “sell,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $433.25.
• Dave shares opened at $316.79, well below the consensus target, with a market capitalization of $4.04 billion and a 52-week range of $152.21 to $458.25.
• The fintech company missed its latest quarterly EPS estimate, reporting $0.49 versus the expected $3.44, while institutional investors collectively owned 18.01% of its stock.

Dave (NASDAQ:DAVE - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

DAVE has been the topic of several other research reports. Weiss Ratings upgraded Dave from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 16th. JPMorgan Chase & Co. initiated coverage on shares of Dave in a research note on Tuesday, September 15th. They set an "overweight" rating and a $480.00 price target for the company. B. Riley Financial lifted their price objective on shares of Dave from $370.00 to $449.00 and gave the company a "buy" rating in a report on Thursday, August 6th. UBS Group reissued a "buy" rating on shares of Dave in a research report on Thursday, October 1st. Finally, Loop Capital began coverage on shares of Dave in a report on Wednesday, September 9th. They set a "buy" rating and a $500.00 target price for the company. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $433.25.

Dave Price Performance

Shares of NASDAQ DAVE opened at $316.79 on Friday. The firm has a market cap of $4.04 billion, a PE ratio of 20.54 and a beta of 3.92. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.93. Dave has a 1-year low of $152.21 and a 1-year high of $458.25. The company has a fifty day moving average price of $353.53 and a 200 day moving average price of $286.37.

Dave (NASDAQ:DAVE - Get Free Report) last released 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 during 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. Research analysts predict that Dave will post 13.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. MeadowBrook Investment Advisors LLC raised its stake in Dave by 116.8% in the third quarter. MeadowBrook Investment Advisors LLC now owns 412 shares of the fintech company's stock valued at $132,000 after buying an additional 222 shares during the period. Vise Technologies Inc. lifted its position in shares of Dave by 14.4% in the third quarter. Vise Technologies Inc. now owns 931 shares of the fintech company's stock valued at $299,000 after buying an additional 117 shares during the last quarter. Summit Global Investments boosted its stake in shares of Dave by 10.2% during the 3rd quarter. Summit Global Investments now owns 973 shares of the fintech company's stock worth $313,000 after acquiring an additional 90 shares during the period. Signaturefd LLC boosted its stake in shares of Dave by 119.2% during the 3rd quarter. Signaturefd LLC now owns 114 shares of the fintech company's stock worth $37,000 after acquiring an additional 62 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in shares of Dave by 841.7% during the 3rd quarter. Sterling Capital Management LLC now owns 339 shares of the fintech company's stock worth $109,000 after acquiring an additional 303 shares during the period. 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 in the United States. The company's mobile app is designed to help members manage everyday finances, access funds between paychecks and build financial flexibility.

Its primary offerings include ExtraCash, an advance product intended to provide eligible members with access to a portion of their expected income, and Dave Spending, a debit account and associated payment card. Dave also provides budgeting tools, automated savings features through Dave Goals, and Side Hustle resources that help members identify potential ways to earn additional income.

Dave was founded in 2016 by Jason Wilk, who serves as chief executive officer.

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