Dave (NASDAQ:DAVE) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Key Points

• Citizens Jmp raised its price target to $365 (from $335) and maintained a "market outperform" rating, implying about a 52.72% upside
• Shares fell 9.4% to $239 despite Dave reporting strong quarterly results—EPS of $4.02 vs. $2.86 expected and $158.4M revenue—along with high profitability (35.35% net margin, 67.04% ROE) and FY2026 guidance of 16.25–16.75 EPS.
• The Board authorized a $300 million stock buyback (up to ~11.2% of shares outstanding), a move often interpreted as management signaling the stock may be undervalued.

Dave (NASDAQ:DAVE - Get Free Report) had its price target hoisted by investment analysts at Citizens Jmp from $335.00 to $365.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "market outperform" rating on the fintech company's stock. Citizens Jmp's target price would indicate a potential upside of 52.72% from the company's current price.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group set a $342.00 price target on shares of Dave in a report on Wednesday. Barrington Research reaffirmed an "outperform" rating and set a $290.00 price target on shares of Dave in a report on Monday. Lake Street Capital reaffirmed a "buy" rating on shares of Dave in a report on Wednesday. Zacks Research raised shares of Dave from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 16th. Finally, Benchmark reissued a "buy" rating on shares of Dave in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $325.13.

Dave Stock Down 9.4%

Shares of NASDAQ DAVE traded down $24.81 during trading on Wednesday, reaching $239.00. 309,404 shares of the company traded hands, compared to its average volume of 569,741. The firm has a 50 day simple moving average of $212.77 and a 200-day simple moving average of $208.70. The stock has a market capitalization of $3.24 billion, a PE ratio of 17.66 and a beta of 3.93. Dave has a 52-week low of $105.83 and a 52-week high of $287.69.

Dave (NASDAQ:DAVE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The fintech company reported $4.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.86 by $1.16. The firm had revenue of $158.40 million for the quarter, compared to the consensus estimate of $153.67 million. Dave had a net margin of 35.35% and a return on equity of 67.04%. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, research analysts predict that Dave will post 13.03 EPS for the current year.

Dave declared that its Board of Directors has authorized a stock buyback program on Monday, March 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the fintech company to reacquire up to 11.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Dave

Several large investors have recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP lifted its holdings in Dave by 1.6% during the third quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company's stock valued at $767,000 after purchasing an additional 62 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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. Blue Trust Inc. lifted its holdings in Dave by 106.8% during the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company's stock valued at $34,000 after purchasing an additional 79 shares in the last quarter. Arizona State Retirement System lifted its holdings in Dave by 3.3% during the third quarter. Arizona State Retirement System now owns 2,787 shares of the fintech company's stock valued at $556,000 after purchasing an additional 88 shares in the last quarter. Finally, Westend Capital Management LLC lifted its holdings in Dave by 100.0% during the fourth quarter. Westend Capital Management LLC now owns 200 shares of the fintech company's stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 18.01% of the company's stock.

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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