Dave (NASDAQ:DAVE) Stock Price Breaks Below 200-Day Moving Average on Analyst Downgrade

Key Points

• Dave shares fell below their 200-day moving average, reaching an intraday low of $258.05 and last trading at $275.34. JPMorgan cut its price target from $480 to $435 but maintained an Overweight rating.
• Dave reported third-quarter revenue of $197.7 million and EPS of $4.39, both above the estimates cited in the article, and raised its 2026 revenue and adjusted-profit outlook.
• Analyst sentiment remains broadly positive: MarketBeat reports a Moderate Buy consensus and an average price target of $429.50, based on 14 Buy and four Hold ratings.

Dave Inc. (NASDAQ:DAVE - Get Free Report)'s share price passed below its two hundred day moving average during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $480.00 to $435.00. The stock has a two hundred day moving average of $288.70 and traded as low as $258.05. JPMorgan Chase & Co. currently has an overweight rating on the stock. Dave shares last traded at $275.34, with a volume of 1,471,230 shares changing hands.

A number of other equities research analysts also recently commented on the stock. Citizens Jmp lifted their target price on shares of Dave from $450.00 to $475.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 6th. Citigroup reissued an "outperform" rating on shares of Dave in a report on Thursday, August 6th. B. Riley Financial raised their price target on Dave from $370.00 to $449.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen lowered Dave from a "hold" rating to a "sell" rating in a report on Saturday, October 31st. Finally, Keefe, Bruyette & Woods upped their price objective on Dave from $485.00 to $490.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $429.50.

More Dave News

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Dave raised its 2026 revenue and adjusted-profit outlook. Third-quarter revenue grew 31% year over year to about $198 million, adjusted EBITDA increased 39% to $82 million, and credit performance improved. Dave Q3 2026 results
• Positive Sentiment: JPMorgan lowered its price target to $435 from $480 but maintained an Overweight rating, indicating continued analyst optimism despite the reduction. JPMorgan rating details
• Neutral Sentiment: Reported Q3 EPS was $4.39. That exceeded the $4.09 estimate cited by one source but fell short of Zacks’ $4.45 consensus, creating mixed earnings comparisons that may help explain the market reaction. Zacks Q3 earnings report
• Negative Sentiment: A law firm announced an investigation into possible securities-law violations following the company’s November 4 disclosure. The announcement is an allegation and does not establish wrongdoing, but it adds headline and potential legal uncertainty. Investigation announcement
• Negative Sentiment: Fintech shares, including Dave, were falling faster than the broader market, suggesting sector-wide pressure compounded the company-specific earnings reaction. Fintech sector coverage

Institutional Investors Weigh In On Dave

A number of hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. raised its stake in Dave by 1.5% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,812 shares of the fintech company's stock valued at $583,000 after purchasing an additional 27 shares during the period. Allworth Financial LP boosted its stake in Dave by 25.4% in the 2nd quarter. Allworth Financial LP now owns 143 shares of the fintech company's stock worth $53,000 after purchasing an additional 29 shares during the period. Nisa Investment Advisors LLC boosted its stake in Dave by 12.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 412 shares of the fintech company's stock worth $132,000 after purchasing an additional 46 shares during the period. Gryphon Financial Partners LLC boosted its stake in Dave by 4.3% in the 3rd quarter. Gryphon Financial Partners LLC now owns 1,315 shares of the fintech company's stock worth $423,000 after purchasing an additional 54 shares during the period. Finally, Signaturefd LLC grew its holdings in Dave by 119.2% during the 3rd quarter. Signaturefd LLC now owns 114 shares of the fintech company's stock valued at $37,000 after buying an additional 62 shares in the last quarter. Institutional investors own 18.01% of the company's stock.

Dave Stock Performance

The firm has a market capitalization of $3.51 billion, a PE ratio of 22.24 and a beta of 4.07. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22. The business's fifty day simple moving average is $349.87 and its 200-day simple moving average is $288.70.

Dave (NASDAQ:DAVE - Get Free Report) last released its earnings results on Wednesday, November 4th. The fintech company reported $4.39 EPS for the quarter, topping the consensus estimate of $4.09 by $0.30. Dave had a net margin of 28.15% and a return on equity of 60.98%. The firm had revenue of $197.70 million for the quarter, compared to the consensus estimate of $191.89 million. As a group, equities research analysts expect that Dave Inc. will post 13.04 EPS for the current year.

About Dave

Dave Inc is a financial technology company that operates a digital banking platform in the United States. The company's mobile app is designed to help members manage everyday finances, access funds between paychecks and build financial flexibility.

Its primary offerings include ExtraCash, an advance product intended to provide eligible members with access to a portion of their expected income, and Dave Spending, a debit account and associated payment card. Dave also provides budgeting tools, automated savings features through Dave Goals, and Side Hustle resources that help members identify potential ways to earn additional income.

Dave was founded in 2016 by Jason Wilk, who serves as chief executive officer.

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