Dave (NASDAQ:DAVE) Trading 5.9% Higher - Still a Buy?

Key Points

• Dave shares rose 5.9% to about $369.95, giving the fintech company a market capitalization of approximately $4.79 billion.
• Analyst sentiment remains positive: 12 analysts rate Dave a Buy and three rate it a Hold, with a “Moderate Buy” consensus and an average price target of $410.82.
• Dave reported quarterly EPS of $0.49, well below the $3.44 consensus estimate, while revenue of $170.79 million was roughly in line with expectations. CEO Jason Wilk and a director recently sold shares, although insiders still own 23.59% of the company.

Dave Inc. (NASDAQ:DAVE - Get Free Report) shares shot up 5.9% on Wednesday . The company traded as high as $370.32 and last traded at $369.95. 134,128 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 559,810 shares. The stock had previously closed at $349.47.

Analysts Set New Price Targets

DAVE has been the subject of a number of analyst reports. Citigroup reaffirmed an "outperform" rating on shares of Dave in a research note on Thursday, August 6th. Barrington Research boosted their price target on shares of Dave from $290.00 to $310.00 and gave the company an "outperform" rating in a report on Friday, June 12th. Lake Street Capital reaffirmed a "buy" rating and issued a $450.00 price objective on shares of Dave in a research note on Thursday, August 6th. Piper Sandler began coverage on shares of Dave in a research report on Monday, August 17th. They set an "overweight" rating and a $390.00 price objective on the stock. Finally, B. Riley Financial boosted their target price on shares of Dave from $370.00 to $449.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $410.82.

Dave Trading Up 7.5%

The company has a market cap of $4.79 billion, a PE ratio of 24.35 and a beta of 3.83. 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 company has a 50 day simple moving average of $370.51 and a two-hundred day simple moving average of $274.86.

Dave (NASDAQ:DAVE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.44 by ($2.95). The company had revenue of $170.79 million during the quarter, compared to analysts' expectations 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. Sell-side analysts forecast that Dave Inc. will post 13.71 EPS for the current year.

Insider Activity

In related news, CEO Jason Wilk sold 8,474 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 299,950 shares of the company's stock, valued at approximately $82,501,247.50. The trade was a 2.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dan Preston sold 275 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total value of $68,103.75. Following the completion of the transaction, the director owned 5,466 shares in the company, valued at $1,353,654.90. This represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 23.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Dave

Institutional investors and hedge funds have recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Dave during the second quarter worth $3,391,000. California State Teachers Retirement System boosted its stake in shares of Dave by 33,721.3% during the 2nd quarter. California State Teachers Retirement System now owns 4,446,489 shares of the fintech company's stock worth $1,656,717,000 after acquiring an additional 4,433,342 shares in the last quarter. AXQ Capital LP acquired a new position in shares of Dave during the 2nd quarter valued at about $486,000. Nykredit A S acquired a new position in shares of Dave during the 2nd quarter valued at about $193,000. Finally, Quantitative Investment Management LLC bought a new position in shares of Dave in the 2nd quarter valued at approximately $426,000. Institutional investors and hedge funds own 18.01% of the company's stock.

Dave Company Profile

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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