Dave (NASDAQ:DAVE) Upgraded at Benchmark

Key Points

• Benchmark upgraded Dave from hold to strong-buy, adding to a generally bullish analyst backdrop for the fintech company.
• Other firms have also been raising their outlooks: several analysts boosted price targets, and MarketBeat data shows Dave now has an average Buy rating with a $338.40 average target price.
• Dave reported strong quarterly results, with EPS of $3.64 beating estimates and revenue topping expectations, while the stock has also drawn attention from recent insider sales and growing institutional ownership.

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

Several other equities analysts also recently commented on DAVE. Barrington Research boosted their price objective on Dave from $290.00 to $310.00 and gave the company an "outperform" rating in a research report on Friday, June 12th. Keefe, Bruyette & Woods increased their target price on Dave from $295.00 to $330.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Lake Street Capital reissued a "buy" rating and set a $332.00 target price on shares of Dave in a research note on Wednesday, May 6th. UBS Group assumed coverage on Dave in a report on Tuesday, May 26th. They issued a "buy" rating and a $300.00 price target on the stock. Finally, Citigroup restated an "outperform" rating on shares of Dave in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Dave presently has an average rating of "Buy" and an average target price of $338.40.

Dave Stock Performance

Shares of NASDAQ DAVE opened at $383.13 on Wednesday. The firm has a fifty day moving average price of $277.41 and a 200-day moving average price of $226.08. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.86 and a quick ratio of 3.86. The stock has a market cap of $4.87 billion, a PE ratio of 24.64 and a beta of 3.82. Dave has a 1 year low of $152.21 and a 1 year high of $404.44.

Dave (NASDAQ:DAVE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, beating the consensus estimate of $2.86 by $0.78. Dave had a net margin of 37.22% and a return on equity of 77.70%. The firm had revenue of $158.41 million for the quarter, compared to the consensus estimate of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. Equities analysts anticipate that Dave will post 15.44 earnings per share for the current fiscal year.

Insider Transactions at Dave

In related news, CEO Jason Wilk sold 8,474 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total value of $2,330,773.70. Following the sale, the chief executive officer directly owned 299,950 shares in the company, valued at approximately $82,501,247.50. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dan Preston sold 275 shares of the stock in a transaction that occurred 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 directly owned 5,466 shares of the company's stock, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 28.48% of the stock is currently owned by insiders.

Institutional Trading of Dave

Several hedge funds have recently modified their holdings of DAVE. Divisadero Street Capital Management LP grew its holdings in shares of Dave by 73.1% in the third quarter. Divisadero Street Capital Management LP now owns 925,266 shares of the fintech company's stock valued at $184,452,000 after purchasing an additional 390,676 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Dave by 819.3% during the third quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company's stock valued at $41,666,000 after purchasing an additional 186,273 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in Dave during the third quarter valued at $26,726,000. Jefferies Financial Group Inc. purchased a new stake in Dave during the fourth quarter valued at $27,874,000. Finally, Wellington Management Group LLP lifted its position in Dave by 200.7% during the third quarter. Wellington Management Group LLP now owns 177,103 shares of the fintech company's stock valued at $35,305,000 after purchasing an additional 118,203 shares during the last quarter. 18.01% of the stock is owned by hedge funds and other institutional investors.

Dave News Roundup

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Benchmark raised its price target on Dave Inc. to $475 from $345 and kept a positive view, reinforcing bullish sentiment around the stock. Dave shares climb as analyst target hike adds to momentum from recent capital and earnings updates
• Positive Sentiment: Investors are also reacting to Dave’s strong first-quarter results, with revenue up 47% year over year and profitability improving sharply, which supports the company’s growth story. Dave shares climb as analyst target hike adds to momentum from recent capital and earnings updates
• Positive Sentiment: Recent guidance increases for 2026 revenue, adjusted EBITDA, and adjusted EPS continue to suggest management sees sustained momentum ahead. Dave Stock Outlook as CashAI and ExtraCash Fuel 2026 Momentum
• Positive Sentiment: The company’s shift to a bank-partnership funding model for ExtraCash may improve capital efficiency, lower funding costs, and unlock more than $200 million in liquidity, which investors may view as a meaningful balance-sheet catalyst. Dave shares climb as analyst target hike adds to momentum from recent capital and earnings updates

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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