Dave (NASDAQ:DAVE) Stock Price Down 9.1% - Here's Why

Key Points

• Dave shares fell 9.1% to about $322.50 in Monday trading, with volume roughly 53% below the average session level.
• The fintech company reported quarterly EPS of $0.49, missing the $3.44 analyst consensus by $2.95, while revenue of $170.79 million was slightly below estimates.
• Despite the decline, Wall Street remains broadly positive: 14 analysts rate Dave a Buy and four rate it Hold, producing a “Moderate Buy” consensus and an average price target of $433.25.

Dave Inc. (NASDAQ:DAVE - Get Free Report)'s share price dropped 9.1% on Monday. The company traded as low as $320.89 and last traded at $322.4950. Approximately 239,374 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 508,099 shares. The stock had previously closed at $354.60.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DAVE. Freedom Capital upgraded shares of Dave to a "hold" rating in a report on Thursday, July 30th. Canaccord Genuity Group increased their price target on Dave from $342.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Citigroup reissued an "outperform" rating on shares of Dave in a report on Thursday, August 6th. Weiss Ratings raised Dave from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 16th. Finally, Citizens Jmp boosted their price objective on Dave from $450.00 to $475.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $433.25.

Dave Price Performance

The company's 50 day moving average price is $355.72 and its 200-day moving average price is $325.39. The stock has a market cap of $4.15 billion, a P/E ratio of 21.04 and a beta of 3.92. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.93.

Dave (NASDAQ:DAVE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The fintech company reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $3.44 by ($2.95). The business had revenue of $170.79 million for the quarter, compared to analyst estimates of $171.11 million. Dave had a return on equity of 77.46% and a net margin of 34.58%. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, sell-side analysts expect that Dave Inc. will post 13.04 earnings per share for the current year.

Institutional Investors Weigh In On Dave

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Dave by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company's stock worth $44,069,000 after acquiring an additional 42,262 shares during the period. Estuary Capital Management LP acquired a new stake in Dave during the 1st quarter valued at approximately $20,556,000. Cooper Creek Partners Management LLC acquired a new stake in Dave during the 1st quarter valued at approximately $18,313,000. Sei Investments Co. raised its holdings in Dave by 21.4% during the 1st quarter. Sei Investments Co. now owns 98,435 shares of the fintech company's stock worth $17,135,000 after purchasing an additional 17,320 shares during the last quarter. Finally, Granahan Investment Management LLC raised its holdings in Dave by 3,325.5% during the 1st quarter. Granahan Investment Management LLC now owns 65,462 shares of the fintech company's stock worth $11,396,000 after purchasing an additional 63,551 shares during the last quarter. Institutional investors own 18.01% of the company's stock.

Dave Company Profile

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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