Strs Ohio Raises Stake in Dave Inc. $DAVE

Key Points

• Strs Ohio boosted its stake in Dave by 1,400% in Q4 to 4,500 shares (worth $996,000), and several other institutions (e.g., SG Americas, Principal) also meaningfully increased positions, with about 18.01% of the stock held by institutions.
• Operational momentum: Dave reported Q1 revenue up 47% Y/Y to $158.4M and EPS of $3.64 (ahead of estimates), raised FY2026 guidance to $16.25–$16.75 EPS, repurchased roughly $195M of stock in the quarter and the board authorized a $300M buyback.
• Analyst and market view: Consensus is a "Moderate Buy" with an average price target of $325.88, while the stock trades near $246 (down ~6.6%), market cap ~$3.34B and a P/E of ~15.8.

Strs Ohio grew its position in Dave Inc. (NASDAQ:DAVE - Free Report) by 1,400.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,500 shares of the fintech company's stock after purchasing an additional 4,200 shares during the quarter. Strs Ohio's holdings in Dave were worth $996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DAVE. Principal Financial Group Inc. lifted its stake in shares of Dave by 22.7% during the 3rd quarter. Principal Financial Group Inc. now owns 67,792 shares of the fintech company's stock valued at $13,514,000 after buying an additional 12,555 shares in the last quarter. SG Americas Securities LLC increased its stake in Dave by 2,267.1% in the 4th quarter. SG Americas Securities LLC now owns 88,552 shares of the fintech company's stock worth $19,606,000 after buying an additional 84,811 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Dave during the third quarter valued at about $1,826,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Dave by 81.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 19,375 shares of the fintech company's stock valued at $3,862,000 after acquiring an additional 8,681 shares in the last quarter. Finally, Wilson Asset Management International PTY Ltd. purchased a new position in shares of Dave in the third quarter valued at about $1,561,000. 18.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on DAVE. Citigroup reiterated an "outperform" rating on shares of Dave in a research report on Wednesday. Barrington Research reissued an "outperform" rating and issued a $290.00 price target on shares of Dave in a report on Monday. Keefe, Bruyette & Woods upped their price target on Dave from $295.00 to $330.00 and gave the stock an "outperform" rating in a research note on Monday. Canaccord Genuity Group increased their price objective on shares of Dave from $328.00 to $342.00 and gave the company a "buy" rating in a report on Wednesday. Finally, UBS Group reiterated a "neutral" rating on shares of Dave in a research report on Friday, March 13th. One research 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. Based on data from MarketBeat, Dave has a consensus rating of "Moderate Buy" and an average price target of $325.88.

More Dave News

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Q1 results: Revenue grew 47% Y/Y to $158.4M, net income rose ~101% to $57.9M, net monetization expanded to 5.1% and credit performance hit record Q1 lows (28‑DPD 1.69%). Company‑reported EPS beat estimates. Dave Reports First Quarter 2026 Financial Results
• Positive Sentiment: FY2026 guidance raised: Dave set EPS of $16.25–$16.75 (well above consensus ~14.42) and revenue guidance of $710–$720M (vs. consensus ~698.3M), signaling stronger forward profitability. Guidance in Q1 Release
• Positive Sentiment: Capital return: Company deployed about $195M in share repurchases (~7.0% of shares outstanding) during the quarter, which is supportive of EPS and signals management confidence. Buyback Details
• Positive Sentiment: Analyst upgrade/target lift: Citizens JMP raised its price target from $335 to $365 and kept a "market outperform" rating, implying substantial upside from current levels. Benzinga
• Positive Sentiment: Third‑party coverage: Zacks and other outlets highlighted the quarter as an upside surprise on both earnings and revenue (Zacks reports an EPS beat vs. consensus). Zacks: Q1 Earnings and Revenues Surpass Estimates
• Neutral Sentiment: Unrelated media: A piece about the musician Dave Matthews and a music festival appeared in the news feed but is not company‑related. USA Today: Dave Matthews Band

Dave Stock Down 6.6%

Shares of DAVE stock opened at $246.37 on Thursday. The company's fifty day simple moving average is $214.38 and its two-hundred day simple moving average is $208.95. Dave Inc. has a 52 week low of $105.83 and a 52 week high of $287.69. The stock has a market cap of $3.34 billion, a P/E ratio of 15.84 and a beta of 3.93.

Dave (NASDAQ:DAVE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $2.86 by $0.78. The firm had revenue of $158.40 million during the quarter, compared to analyst estimates of $153.67 million. Dave had a return on equity of 72.06% and a net margin of 37.22%.Dave has set its FY 2026 guidance at 16.250-16.750 EPS. On average, analysts anticipate that Dave Inc. will post 13.03 EPS for the current fiscal year.

Dave announced that its Board of Directors has initiated a stock buyback program on Monday, March 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the fintech company to purchase up to 11.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

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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