Dave (NASDAQ:DAVE) Trading Down 6.8% - Time to Sell?

Key Points

• Dave shares fell 6.8% to approximately $329.50 in thin midday trading, with volume down 94% from the average.
• Analysts remain broadly optimistic: 14 rate the stock a Buy and three a Hold, resulting in a “Moderate Buy” consensus and an average price target of $433.25.
• The company’s latest quarterly EPS of $0.49 missed the $3.44 consensus estimate, although revenue of $170.79 million was close to expectations; institutional investors own 18.01% of the stock.

Dave Inc. (NASDAQ:DAVE - Get Free Report) traded down 6.8% during trading on Wednesday . The stock traded as low as $337.83 and last traded at $329.4970. Approximately 31,827 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 535,124 shares. The stock had previously closed at $353.57.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued an "outperform" rating on shares of Dave in a report on Thursday, August 6th. Weiss Ratings raised shares of Dave from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, September 16th. Evercore began coverage on shares of Dave in a report on Wednesday, May 27th. They issued a "hold" rating and a $260.00 price target for the company. Benchmark raised their target price on shares of Dave from $345.00 to $475.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods upped their price objective on Dave from $485.00 to $490.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $433.25.

Dave Trading Down 7.4%

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 stock has a 50-day simple moving average of $372.72 and a two-hundred day simple moving average of $300.74. The firm has a market cap of $4.18 billion, a PE ratio of 21.22 and a beta of 3.83.

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). Dave had a return on equity of 77.46% and a net margin of 34.58%.The company had revenue of $170.79 million during the quarter, compared to analysts' expectations of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, sell-side analysts anticipate that Dave Inc. will post 12.9 EPS for the current year.

Hedge Funds Weigh In On Dave

A number of institutional investors have recently modified their holdings of DAVE. Allworth Financial LP boosted its holdings in Dave by 25.4% in the second quarter. Allworth Financial LP now owns 143 shares of the fintech company's stock valued at $53,000 after acquiring an additional 29 shares during the last quarter. Harbour Investments Inc. purchased a new position in shares of Dave in the fourth quarter valued at $66,000. GAMMA Investing LLC grew its stake in shares of Dave by 43.9% during the second quarter. GAMMA Investing LLC now owns 223 shares of the fintech company's stock valued at $83,000 after acquiring an additional 68 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Dave during the 2nd quarter valued at approximately $137,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Dave in the fourth quarter valued at $163,000. 18.01% of the stock is owned by hedge funds and other institutional investors.

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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