Dave (NASDAQ:DAVE) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Dave from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $412.90.
• Dave shares opened at $310, well below their 12-month high of $458.25. The stock has a market capitalization of approximately $3.94 billion and a high beta of 3.83, indicating significant volatility.
• In its latest quarter, Dave reported $0.49 in adjusted EPS, missing the $3.44 consensus estimate, while revenue of $170.79 million was roughly in line with expectations. CEO Jason Wilk and a director also recently sold shares.

Dave (NASDAQ:DAVE - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Citizens Jmp increased their price target on shares of Dave from $450.00 to $475.00 and gave the company a "market outperform" rating in a research report on Thursday, August 6th. Weiss Ratings cut shares of Dave from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Evercore initiated coverage on shares of Dave in a research note on Wednesday, May 27th. They set a "hold" rating and a $260.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on shares of Dave from $485.00 to $490.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Finally, Citigroup reiterated an "outperform" rating on shares of Dave in a research note on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $412.90.

Dave Stock Performance

Shares of Dave stock opened at $310.00 on Monday. The business's fifty day simple moving average is $357.92 and its 200 day simple moving average is $263.27. 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 12 month low of $152.21 and a 12 month high of $458.25. The firm has a market capitalization of $3.94 billion, a P/E ratio of 20.10 and a beta of 3.83.

Dave (NASDAQ:DAVE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The fintech company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, analysts anticipate that Dave will post 15.66 EPS for the current year.

Insider Activity at Dave

In other news, CEO Jason Wilk sold 8,474 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dan Preston sold 275 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the completion of the transaction, the director directly owned 5,466 shares in the company, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 23.59% of the company's stock.

Institutional Investors Weigh In On Dave

Large investors have recently added to or reduced their stakes in the business. WealthCollab LLC bought a new position in Dave in the 2nd quarter worth about $30,000. National Bank of Canada FI bought a new stake in shares of Dave during the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC bought a new stake in shares of Dave during the 4th quarter valued at about $36,000. GAMMA Investing LLC boosted its position in shares of Dave by 43.9% during the 2nd quarter. GAMMA Investing LLC now owns 223 shares of the fintech company's stock valued at $83,000 after acquiring an additional 68 shares during the last quarter. Finally, Harbour Investments Inc. purchased a new position in shares of Dave during the fourth quarter worth about $66,000. 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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