Tidal Investments LLC Boosts Stake in Dave Inc. $DAVE

Key Points

• Tidal Investments increased its Dave stake by 277.4% in the second quarter to 5,200 shares valued at approximately $1.94 million. Other institutional investors also expanded positions, though hedge funds and institutions collectively own 18.01% of the stock.
• Dave shares opened at $365.83, down 2.4%, and remain highly volatile with a beta of 3.83. The stock recently reported EPS of $0.49, far below the $3.44 consensus estimate, while revenue was broadly in line with expectations.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $433.25. Recent bullish calls include Benchmark, UBS, Piper Sandler and JPMorgan, whose $480 target implies significant upside.

Tidal Investments LLC grew its position in shares of Dave Inc. (NASDAQ:DAVE - Free Report) by 277.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,200 shares of the fintech company's stock after acquiring an additional 3,822 shares during the quarter. Tidal Investments LLC's holdings in Dave were worth $1,937,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Jefferies Financial Group Inc. purchased a new stake in shares of Dave during the 4th quarter worth about $27,874,000. Estuary Capital Management LP acquired a new stake in Dave during the 1st quarter worth approximately $20,556,000. Cooper Creek Partners Management LLC purchased a new position in Dave in the first quarter valued at approximately $18,313,000. Geode Capital Management LLC raised its holdings in Dave by 31.1% in the fourth quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company's stock valued at $70,483,000 after buying an additional 75,576 shares during the period. Finally, Granahan Investment Management LLC raised its holdings in Dave by 3,325.5% in the first quarter. Granahan Investment Management LLC now owns 65,462 shares of the fintech company's stock valued at $11,396,000 after buying an additional 63,551 shares during the period. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: JPMorgan initiated coverage of Dave Inc. with an “overweight” rating and a $480 price target, implying substantial upside from the referenced price. The coverage may support investor sentiment, although the stock is still trading below that target.
• Neutral Sentiment: Several reports discuss Dave & Buster’s efforts to improve execution, simplify marketing, change leadership and generate adjusted free cash flow. These developments relate to PLAY, not DAVE, and therefore do not provide a direct explanation for DAVE’s move. Dave & Buster’s shifts blame from economy to execution
• Neutral Sentiment: The Dave Chappelle articles are entertainment news unrelated to Dave Inc.’s business or valuation.
• Negative Sentiment: Investors may still be reacting to Dave Inc.’s previously reported earnings disappointment: the company posted quarterly EPS of $0.49 versus the $3.44 consensus estimate, while revenue was broadly in line. The stock’s high beta and position below its 50-day moving average could also contribute to short-term volatility and selling pressure.

Dave Trading Down 2.4%

DAVE opened at $365.83 on Thursday. The firm's 50 day moving average is $376.69 and its 200-day moving average is $296.61. Dave Inc. has a 52-week low of $152.21 and a 52-week high of $458.25. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $4.67 billion, a P/E ratio of 23.72 and a beta of 3.83.

Dave (NASDAQ:DAVE - Get Free Report) last announced its 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). The firm had revenue of $170.79 million during the quarter, compared to analysts' expectations of $171.11 million. Dave had a net margin of 34.58% and a return on equity of 77.46%. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Analysts expect that Dave Inc. will post 13.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Benchmark boosted their price objective on shares of Dave from $345.00 to $475.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Citigroup restated an "outperform" rating on shares of Dave in a report on Thursday, August 6th. Evercore started coverage on Dave in a report on Wednesday, May 27th. They issued a "hold" rating and a $260.00 price target for the company. Piper Sandler assumed coverage on Dave in a research report on Monday, August 17th. They issued an "overweight" rating and a $390.00 price objective on the stock. Finally, UBS Group boosted their price objective on Dave from $300.00 to $470.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Dave currently has a consensus rating of "Moderate Buy" and an average price target of $433.25.

About Dave

Dave Inc is a financial technology company that operates a digital banking platform designed to help consumers manage everyday finances. Through its mobile application, the company provides tools intended to support budgeting, spending, saving and access to short-term funds.

Dave's products include Dave Spending, a spending account and debit card offering, as well as budgeting and automatic savings features. Its ExtraCash product provides eligible users with access to advances intended to help manage short-term cash needs.

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