Dave (NASDAQ:DAVE) Trading Down 5.7% – Here’s Why

Shares of Dave Inc. (NASDAQ:DAVE) dropped 5.7% during trading on Friday . The stock traded as low as $225.82 and last traded at $227.2230. Approximately 124,866 shares were traded during trading, a decline of 77% from the average daily volume of 552,325 shares. The stock had previously closed at $240.90.

Analysts Set New Price Targets

DAVE has been the subject of several recent research reports. William Blair reissued an “accumulate” rating on shares of Dave in a research note on Friday, March 13th. Benchmark reissued a “buy” rating on shares of Dave in a research note on Tuesday, March 3rd. Citigroup reissued an “outperform” rating on shares of Dave in a research note on Wednesday, May 6th. UBS Group reissued a “neutral” rating on shares of Dave in a research note on Friday, March 13th. Finally, Canaccord Genuity Group increased their target price on shares of Dave from $328.00 to $342.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $325.88.

Dave Trading Down 4.6%

The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 0.95. The firm has a market cap of $2.92 billion, a PE ratio of 14.81 and a beta of 3.93. The company’s 50-day moving average is $223.26 and its 200 day moving average is $209.66.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, beating the consensus estimate of $2.86 by $0.78. The business had revenue of $158.40 million during the quarter, compared to the consensus estimate of $153.67 million. Dave had a net margin of 37.22% and a return on equity of 77.70%. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, sell-side analysts predict that Dave Inc. will post 14.49 EPS for the current year.

Dave announced that its board has initiated a share repurchase program on Monday, March 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the fintech company to buy up to 11.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Dave

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WealthCollab LLC purchased a new stake in Dave in the 2nd quarter worth approximately $30,000. National Bank of Canada FI purchased a new stake in Dave in the 3rd quarter worth approximately $30,000. Blue Trust Inc. lifted its position in Dave by 106.8% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock worth $34,000 after buying an additional 79 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Dave in the 4th quarter worth approximately $36,000. Finally, Westend Capital Management LLC lifted its position in Dave by 100.0% in the 4th quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock worth $44,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 18.01% of the company’s stock.

About Dave

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.