Dave (NASDAQ:DAVE) Shares Gap Up – Time to Buy?

Dave Inc. (NASDAQ:DAVE)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $365.78, but opened at $377.48. Dave shares last traded at $379.7930, with a volume of 44,533 shares.

Key Dave News

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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DAVE. Keefe, Bruyette & Woods increased their price target on shares of Dave from $485.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Freedom Capital raised Dave to a “hold” rating in a research report on Thursday, July 30th. Zacks Research cut Dave from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Barrington Research increased their target price on Dave from $290.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, June 12th. Finally, Citigroup reissued an “outperform” rating on shares of Dave 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $433.25.

Dave Stock Down 2.4%

The company’s 50 day simple moving average is $376.69 and its 200-day simple moving average is $296.61. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.93. The firm has a market cap of $4.67 billion, a P/E ratio of 23.72 and a beta of 3.83.

Dave (NASDAQ:DAVE) last announced 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 company had revenue of $170.79 million during the quarter, compared to the consensus estimate 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. Research analysts forecast that Dave Inc. will post 13.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dave

A number of hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in Dave by 25.4% during the second quarter. Allworth Financial LP now owns 143 shares of the fintech company’s stock valued at $53,000 after purchasing an additional 29 shares in the last quarter. GAMMA Investing LLC increased its position in Dave by 43.9% in the second quarter. GAMMA Investing LLC now owns 223 shares of the fintech company’s stock worth $83,000 after buying an additional 68 shares in the last quarter. New York State Teachers Retirement System increased its position in Dave by 13.8% in the first quarter. New York State Teachers Retirement System now owns 956 shares of the fintech company’s stock worth $166,000 after buying an additional 116 shares in the last quarter. Gryphon Financial Partners LLC increased its position in Dave by 14.7% in the first quarter. Gryphon Financial Partners LLC now owns 1,150 shares of the fintech company’s stock worth $200,000 after buying an additional 147 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Dave by 1.8% in the first quarter. Janus Henderson Group PLC now owns 12,805 shares of the fintech company’s stock worth $2,228,000 after buying an additional 230 shares during the period. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

Dave Company Profile

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.