Dave (NASDAQ:DAVE) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Dave from “hold” to “sell,” despite broader analyst sentiment remaining positive with a “Moderate Buy” consensus and an average price target of $433.25.
• Dave shares opened at $337.82, down 5.2%, with a market capitalization of $4.31 billion and a 52-week trading range of $152.21 to $458.25.
• The fintech company reported quarterly earnings of $0.49 per share, missing analysts’ $3.44 estimate, while revenue of $170.79 million was slightly below expectations.

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

A number of other brokerages have also issued reports on DAVE. UBS Group raised their price target on Dave from $300.00 to $470.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Freedom Capital upgraded Dave to a "hold" rating in a research note on Thursday, July 30th. Piper Sandler assumed coverage on Dave in a report on Monday, August 17th. They issued an "overweight" rating and a $390.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Dave in a research note on Tuesday. They issued an "overweight" rating and a $480.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on Dave from $485.00 to $490.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Dave presently has a consensus rating of "Moderate Buy" and a consensus target price of $433.25.

Dave Stock Down 5.2%

Shares of NASDAQ DAVE opened at $337.82 on Friday. The firm has a market cap of $4.31 billion, a P/E ratio of 21.91 and a beta of 3.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22. Dave has a 1 year low of $152.21 and a 1 year high of $458.25. The firm's 50 day moving average price is $374.76 and its 200 day moving average price is $298.04.

Dave (NASDAQ:DAVE - Get Free Report) last issued its quarterly 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 business had revenue of $170.79 million during the quarter, compared to analyst estimates of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, sell-side analysts anticipate that Dave will post 13.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Dave by 25.4% during the 2nd quarter. Allworth Financial LP now owns 143 shares of the fintech company's stock valued at $53,000 after purchasing an additional 29 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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. Harbour Investments Inc. purchased a new position in Dave in the 4th quarter valued at about $66,000. Integrated Wealth Concepts LLC purchased a new position in Dave in the 2nd quarter valued at about $137,000. Finally, Nykredit A S acquired a new stake in shares of Dave during the second quarter valued at about $193,000. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

About Dave

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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