Evercore Begins Coverage on Dave (NASDAQ:DAVE)

Equities research analysts at Evercore assumed coverage on shares of Dave (NASDAQ:DAVE) in a research note issued on Wednesday, Marketbeat.com reports. The firm set an “in-line” rating and a $260.00 price target on the fintech company’s stock. Evercore’s price objective points to a potential upside of 1.73% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Lake Street Capital reaffirmed a “buy” rating and set a $332.00 price target on shares of Dave in a research report on Wednesday, May 6th. Citizens Jmp increased their price target on shares of Dave from $335.00 to $365.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. Zacks Research raised Dave from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. UBS Group initiated coverage on Dave in a research report on Tuesday. They issued a “buy” rating and a $300.00 price target for the company. Finally, Citigroup reaffirmed an “outperform” rating on shares of Dave in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $316.70.

Dave Stock Performance

Shares of DAVE traded up $6.23 during mid-day trading on Wednesday, hitting $255.58. 65,342 shares of the company traded hands, compared to its average volume of 549,496. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 16.46 and a beta of 3.93. The stock has a 50-day moving average price of $224.42 and a two-hundred day moving average price of $209.58. Dave has a 1 year low of $152.21 and a 1 year high of $287.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86.

Dave (NASDAQ:DAVE) last posted its earnings results on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates 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. Equities analysts anticipate that Dave will post 14.49 earnings per share for the current year.

Dave announced that its Board of Directors has initiated a stock buyback program on Monday, March 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the fintech company to purchase up to 11.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Dave

Institutional investors have recently bought and sold shares of the business. WealthCollab LLC purchased a new position in shares of Dave in the 2nd quarter worth $30,000. National Bank of Canada FI bought a new position in shares of Dave in the 3rd quarter valued at about $30,000. Blue Trust Inc. grew its position in Dave by 106.8% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock worth $34,000 after acquiring an additional 79 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Dave in the fourth quarter worth about $36,000. Finally, Westend Capital Management LLC increased its stake in Dave by 100.0% during the fourth quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock worth $44,000 after acquiring an additional 100 shares during the last quarter. 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.