Dave (NASDAQ:DAVE) Rating Lowered to Hold at Zacks Research

Dave (NASDAQ:DAVE) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other analysts have also issued reports about the company. Benchmark boosted their target price on Dave from $345.00 to $475.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Freedom Capital upgraded Dave to a “hold” rating in a research note on Thursday, July 30th. Evercore began coverage on Dave in a report on Wednesday, May 27th. They issued a “hold” rating and a $260.00 price objective for the company. Citigroup restated an “outperform” rating on shares of Dave in a research note on Thursday, August 6th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $450.00 price objective on shares of Dave in a report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $412.90.

Dave Trading Up 0.4%

Shares of DAVE stock opened at $310.00 on Monday. The company has a 50 day moving average of $357.92 and a 200-day moving average of $263.27. 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 has a 12-month low of $152.21 and a 12-month high of $458.25. The firm has a market cap of $3.94 billion, a P/E ratio of 20.10 and a beta of 3.83.

Dave (NASDAQ:DAVE) last posted 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 the consensus estimate of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Sell-side analysts anticipate that Dave will post 15.66 earnings per share for the current year.

Insider Buying and Selling at Dave

In other news, Director Dan Preston sold 275 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the sale, the director directly owned 5,466 shares in the company, valued at $1,353,654.90. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jason Wilk sold 8,474 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total value of $2,330,773.70. Following the sale, the chief executive officer owned 299,950 shares in the company, valued at approximately $82,501,247.50. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 23.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dave

Several hedge funds have recently bought and sold shares of the company. WealthCollab LLC bought a new stake in Dave during the 2nd quarter worth approximately $30,000. National Bank of Canada FI bought a new position in Dave in the 3rd quarter valued at $30,000. Kestra Advisory Services LLC bought a new position in Dave in the 4th quarter valued at $36,000. GAMMA Investing LLC grew its position in shares of Dave by 43.9% during the 2nd quarter. GAMMA Investing LLC now owns 223 shares of the fintech company’s stock valued at $83,000 after purchasing an additional 68 shares in the last quarter. Finally, Harbour Investments Inc. purchased a new position in shares of Dave during the 4th quarter valued at $66,000. Hedge funds and other institutional investors 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.