Dave (NASDAQ:DAVE) Shares Break Above 200 Day Moving Average – Here’s What Happened

Dave Inc. (NASDAQ:DAVE)’s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $305.20 and traded as high as $324.99. Dave shares last traded at $321.51, with a volume of 185,874 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Canaccord Genuity Group raised their price objective on Dave from $342.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods boosted their price target on shares of Dave from $485.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Freedom Capital raised shares of Dave to a “hold” rating in a research report on Thursday, July 30th. Barrington Research increased their price objective on shares of Dave from $290.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, June 12th. Finally, Weiss Ratings upgraded Dave from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, September 16th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Dave has a consensus rating of “Moderate Buy” and a consensus target price of $433.25.

Dave Stock Performance

The company has a market cap of $4.43 billion, a P/E ratio of 22.55 and a beta of 3.92. The company’s 50-day moving average is $357.92 and its two-hundred day moving average is $306.10. 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 (NASDAQ:DAVE) last released its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $3.44 by ($2.95). Dave had a net margin of 34.58% and a return on equity of 77.46%. The company had revenue of $170.79 million during the quarter, compared to analysts’ expectations of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Equities analysts predict that Dave Inc. will post 12.9 EPS for the current year.

Institutional Trading of Dave

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Dave by 31.1% during the 4th quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company’s stock worth $70,483,000 after acquiring an additional 75,576 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Dave by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock worth $44,069,000 after purchasing an additional 42,262 shares in the last quarter. Estuary Capital Management LP purchased a new position in shares of Dave in the first quarter worth about $20,556,000. Cooper Creek Partners Management LLC bought a new stake in shares of Dave in the first quarter valued at approximately $18,313,000. Finally, Sei Investments Co. lifted its stake in shares of Dave by 21.4% during the 1st quarter. Sei Investments Co. now owns 98,435 shares of the fintech company’s stock valued at $17,135,000 after buying an additional 17,320 shares in the last quarter. 18.01% of the stock is currently owned by institutional investors.

Dave Company Profile

Dave Inc is a financial technology company that operates a mobile banking and personal finance platform for consumers in the United States. The company provides tools designed to help members manage everyday finances, access funds between paychecks and improve their financial flexibility.

Its primary offerings include ExtraCash, an advance product that allows eligible members to access a portion of their expected income before payday, and Dave Spending, a deposit account and debit card product.