Dave (NASDAQ:DAVE) Rating Increased to Strong-Buy at Piper Sandler

Key Points

• Piper Sandler upgraded Dave to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $410.82.
• Dave’s shares opened at $341.43 and were trading up 2.1%; the stock has ranged from $152.21 to $458.25 over the past year and carries a high beta of 3.83.
• The company reported quarterly revenue of $170.79 million, roughly in line with expectations, but earnings per share of $0.49 fell well short of the $3.44 consensus estimate. Insiders recently sold shares, while institutional ownership stands at 18.01%.

Dave (NASDAQ:DAVE - Get Free Report) was upgraded by equities research analysts at Piper Sandler to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts also recently commented on DAVE. Citizens Jmp raised their target price on Dave from $450.00 to $475.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 6th. Freedom Capital upgraded Dave to a "hold" rating in a research report on Thursday, July 30th. Zacks Research downgraded shares of Dave from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. Citigroup restated an "outperform" rating on shares of Dave in a research report on Thursday, August 6th. Finally, UBS Group raised their price objective on shares of Dave from $300.00 to $470.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $410.82.

Dave Trading Up 2.1%

NASDAQ:DAVE opened at $341.43 on Monday. Dave has a 1 year low of $152.21 and a 1 year high of $458.25. The stock's fifty day moving average price is $363.65 and its two-hundred day moving average price is $267.44. 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 company has a market cap of $4.36 billion, a P/E ratio of 22.14 and a beta of 3.83.

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 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 company had revenue of $170.79 million during the quarter, compared to analysts' expectations of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, analysts expect that Dave will post 13.89 EPS for the current year.

Insider Buying and Selling

In other news, Director Dan Preston sold 275 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $247.65, for a total value of $68,103.75. Following the transaction, the director owned 5,466 shares of the company's stock, valued at $1,353,654.90. This represents a 4.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason Wilk sold 8,474 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the completion of the transaction, the chief executive officer directly owned 299,950 shares in the company, valued at $82,501,247.50. The trade was a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 23.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DAVE. JPMorgan Chase & Co. raised its position in Dave by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company's stock valued at $2,412,000 after purchasing an additional 65 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Dave in the 2nd quarter worth about $324,000. Invesco Ltd. increased its position in shares of Dave by 2,379.9% during the 2nd quarter. Invesco Ltd. now owns 97,485 shares of the fintech company's stock valued at $26,166,000 after purchasing an additional 93,554 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Dave during the 2nd quarter valued at about $18,710,000. Finally, Cresset Asset Management LLC bought a new position in shares of Dave during the 2nd quarter valued at about $402,000. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

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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