Dave (NASDAQ:DAVE) Downgraded by Benchmark to “Hold”

Benchmark lowered shares of Dave (NASDAQ:DAVE) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

DAVE has been the topic of several other research reports. Citizens Jmp boosted their target price on shares of Dave from $335.00 to $365.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. Evercore began coverage on shares of Dave in a report on Wednesday, May 27th. They issued a “hold” rating and a $260.00 target price on the stock. Weiss Ratings upgraded shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 11th. Canaccord Genuity Group boosted their target price on shares of Dave from $328.00 to $342.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Dave from $295.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $325.40.

Dave Price Performance

DAVE stock opened at $298.52 on Tuesday. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 19.20 and a beta of 3.87. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95. Dave has a 12-month low of $152.21 and a 12-month high of $318.66. The company’s fifty day simple moving average is $249.63 and its 200 day simple moving average is $216.17.

Dave (NASDAQ:DAVE) last released its earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.78. The business had revenue of $158.41 million for the quarter, compared to analyst estimates 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. On average, analysts expect that Dave will post 14.7 earnings per share for the current year.

Dave announced that its board has authorized a stock repurchase plan on Monday, March 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the fintech company to purchase up to 11.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Dave

In other Dave news, CEO Jason Wilk sold 8,474 shares of Dave stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 299,950 shares of the company’s stock, valued at approximately $82,501,247.50. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dan Preston sold 275 shares of Dave stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $247.65, for a total transaction of $68,103.75. Following the completion of the sale, the director directly owned 5,466 shares of the company’s stock, valued at approximately $1,353,654.90. This trade represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 28.48% of the company’s stock.

Institutional Investors Weigh In On Dave

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in Dave by 2,267.1% in the fourth quarter. SG Americas Securities LLC now owns 88,552 shares of the fintech company’s stock valued at $19,606,000 after purchasing an additional 84,811 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Dave by 372.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,841 shares of the fintech company’s stock valued at $1,293,000 after purchasing an additional 4,604 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Dave in the third quarter valued at $1,826,000. Neuberger Berman Group LLC bought a new stake in shares of Dave during the third quarter worth about $26,726,000. Finally, Azora Capital LP increased its position in shares of Dave by 87.9% during the third quarter. Azora Capital LP now owns 133,242 shares of the fintech company’s stock worth $26,562,000 after acquiring an additional 62,318 shares in the last quarter. 18.01% of the stock is owned by institutional investors.

Key Headlines Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Zacks highlighted Dave Inc. (DAVE) as trading below its industry P/E average despite nearly 80% return on equity, strong margins, low debt, and rising member growth, suggesting the market may be underestimating earnings power. Article Title
• Positive Sentiment: DAVE was also named among “relative price strength winners,” with the article citing firmer market sentiment and positive earnings estimate revisions as tailwinds. Article Title
• Positive Sentiment: Another Zacks piece listed Dave Inc. (DAVE) among high-flying tech services stocks with double-digit year-to-date gains, reinforcing the stock’s momentum story. Article Title

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.