Dave (NASDAQ:DAVE) Shares Gap Down on Analyst Downgrade

Dave Inc. (NASDAQ:DAVE) shares gapped down prior to trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $480.00 to $435.00. The stock had previously closed at $336.22, but opened at $295.66. JPMorgan Chase & Co. currently has an overweight rating on the stock. Dave shares last traded at $265.7140, with a volume of 164,001 shares traded.

A number of other research analysts have also recently weighed in on DAVE. Lake Street Capital restated a “buy” rating and set a $450.00 target price on shares of Dave in a research note on Thursday, August 6th. Citizens Jmp increased their price target on Dave from $450.00 to $475.00 and gave the stock a “market outperform” 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. Wall Street Zen downgraded Dave from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Finally, Loop Capital began coverage on Dave in a research note on Wednesday, September 9th. They issued a “buy” rating and a $500.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Dave currently has an average rating of “Moderate Buy” and an average target price of $425.69.

More Dave News

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Dave raised its 2026 revenue and profit outlook, citing member growth, improving credit performance and expansion of its ExtraCash product. These growth and credit trends could support future results. Article: DAVE Q3 Earnings Call Highlights Higher Outlook and Credit Gains
• Negative Sentiment: Third-quarter EPS of $4.39 fell short of Zacks’ $4.45 consensus estimate. The earnings shortfall contributed to the stock’s post-report selloff despite higher revenue and raised guidance. Article: Dave Inc. Q3 Earnings Miss Estimates
• Negative Sentiment: Kirby McInerney LLP announced an investigation into potential securities-law violations or other unlawful business practices. Another law firm also announced an investigation following the November 4 disclosure. These are allegations under investigation, not findings of wrongdoing, but the announcements may add uncertainty for investors. Article: Dave, Inc. Investigation
• Negative Sentiment: JPMorgan cut its price target to $435 from $480, though it kept an Overweight rating. The shares also reportedly fell below their 200-day moving average after an analyst downgrade, a potentially bearish technical signal. Article: JPMorgan Cuts Dave Price Target

Hedge Funds Weigh In On Dave

Several institutional investors have recently bought and sold shares of DAVE. Dimensional Fund Advisors LP increased its holdings in Dave by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock valued at $44,069,000 after acquiring an additional 42,262 shares during the last quarter. Estuary Capital Management LP bought a new position in shares of Dave during the 1st quarter valued at about $20,556,000. Cooper Creek Partners Management LLC purchased a new position in shares of Dave during the first quarter valued at about $18,313,000. Sei Investments Co. grew its position in shares of Dave by 21.4% during the first quarter. Sei Investments Co. now owns 98,435 shares of the fintech company’s stock valued at $17,135,000 after purchasing an additional 17,320 shares in the last quarter. Finally, Granahan Investment Management LLC grew its position in shares of Dave by 3,325.5% during the first quarter. Granahan Investment Management LLC now owns 65,462 shares of the fintech company’s stock valued at $11,396,000 after purchasing an additional 63,551 shares in the last quarter. 18.01% of the stock is owned by hedge funds and other institutional investors.

Dave Trading Up 1.2%

The company has a debt-to-equity ratio of 0.93, a current ratio of 4.22 and a quick ratio of 4.22. The stock has a 50-day moving average price of $347.96 and a two-hundred day moving average price of $289.16. The stock has a market cap of $3.55 billion, a PE ratio of 22.50 and a beta of 4.07.

Dave (NASDAQ:DAVE) last posted its earnings results on Wednesday, November 4th. The fintech company reported $4.39 EPS for the quarter, topping analysts’ consensus estimates of $4.09 by $0.30. Dave had a return on equity of 77.46% and a net margin of 34.58%. The company had revenue of $197.70 million for the quarter, compared to the consensus estimate of $191.89 million. Sell-side analysts forecast that Dave Inc. will post 13.04 earnings per share for the current fiscal year.

About Dave

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.