Dave (NASDAQ:DAVE) Stock Price Target Cut by JPMorgan Chase & Co.

Key Points

• JPMorgan cut its Dave price target from $480 to $435 but maintained an “overweight” rating, implying about 58% upside from the price cited in the report.
• Analyst sentiment remains broadly positive: 14 analysts rate the stock Buy and four Hold, for a “Moderate Buy” consensus and an average target of $429.50.
• Dave reported quarterly EPS of $4.39, above the cited $4.09 consensus, and revenue of $197.7 million, above expectations; shares nevertheless fell to $275.34 on Thursday.

Dave (NASDAQ:DAVE - Get Free Report) had its price target lowered by analysts at JPMorgan Chase & Co. from $480.00 to $435.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the fintech company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 57.99% from the company's current price.

A number of other analysts have also recently commented on DAVE. UBS Group reiterated a "buy" rating on shares of Dave in a research report on Thursday, October 1st. Citigroup reissued an "outperform" rating on shares of Dave in a research report on Thursday, August 6th. Freedom Capital upgraded Dave to a "hold" rating in a research note on Thursday, July 30th. Piper Sandler began coverage on Dave in a research note on Monday, August 17th. They set an "overweight" rating and a $390.00 price target for the company. Finally, B. Riley Financial upped their price target on shares of Dave from $370.00 to $449.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $429.50.

Dave Stock Performance

NASDAQ:DAVE traded down $60.88 during trading hours on Thursday, reaching $275.34. The company had a trading volume of 1,471,230 shares, compared to its average volume of 508,405. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 17.86 and a beta of 4.07. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.93. The firm's 50 day moving average price is $351.80 and its 200-day moving average price is $288.29. Dave has a 52 week low of $152.21 and a 52 week high of $458.25.

Dave (NASDAQ:DAVE - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The fintech company reported $4.39 earnings per share for the quarter, beating the consensus estimate of $4.09 by $0.30. The firm had revenue of $197.70 million for the quarter, compared to analysts' expectations of $191.89 million. Dave had a return on equity of 77.46% and a net margin of 34.58%. On average, analysts forecast that Dave will post 13.04 EPS for the current year.

Institutional Investors Weigh In On Dave

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GK Wealth Management LLC purchased a new position in shares of Dave during the 3rd quarter valued at $34,000. Signaturefd LLC boosted its holdings in Dave by 119.2% in the 3rd quarter. Signaturefd LLC now owns 114 shares of the fintech company's stock worth $37,000 after buying an additional 62 shares during the period. Allworth Financial LP boosted its holdings in Dave by 25.4% in the 2nd quarter. Allworth Financial LP now owns 143 shares of the fintech company's stock worth $53,000 after buying an additional 29 shares during the period. GAMMA Investing LLC increased its stake in Dave by 43.9% in the 2nd quarter. GAMMA Investing LLC now owns 223 shares of the fintech company's stock worth $83,000 after buying an additional 68 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in Dave by 841.7% in the 3rd quarter. Sterling Capital Management LLC now owns 339 shares of the fintech company's stock worth $109,000 after buying an additional 303 shares in the last quarter. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Q3 revenue rose 31% year over year to about $198 million, while adjusted EBITDA increased 39% to $82 million. Dave also reported improving delinquency rates and record new-member acquisition. Dave Reports Third Quarter 2026 Financial Results
• Positive Sentiment: Management raised its 2026 revenue and profit outlook, citing member growth, improved credit performance and expansion of ExtraCash. These trends support the company’s growth outlook, though they did not prevent the stock from declining. Q3 Earnings Call Highlights
• Negative Sentiment: Some reports characterized Q3 EPS of $4.39 as below their consensus estimate, despite revenue exceeding estimates; estimate figures varied across reports. The profit shortfall appears to have weighed on shares and overshadowed the higher outlook. Q3 Earnings Miss Estimates
• Negative Sentiment: Dave was also caught in a wider decline among fintech stocks, adding sector-level pressure beyond the company’s results. Fintech Stocks Like Robinhood And Dave Are Falling Faster Than The Market
• Negative Sentiment: A law firm announced an investigation into possible securities-law violations following the company’s November 4 disclosure. This is an investigation announcement, not a finding of wrongdoing, but it adds a headline risk for investors. Law Firm Announces Securities Investigation

About Dave

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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