Dave (NASDAQ:DAVE) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen lowered shares of Dave (NASDAQ:DAVE) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also weighed in on the company. Monness Crespi & Hardt began coverage on Dave in a research report on Monday, October 26th. They issued a “neutral” rating for the company. Weiss Ratings raised shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. B. Riley Financial raised their price target on shares of Dave from $370.00 to $449.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Loop Capital initiated coverage on shares of Dave in a research note on Wednesday, September 9th. They issued a “buy” rating and a $500.00 price target for the company. Finally, Citizens Jmp raised their target price on shares of Dave from $450.00 to $475.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Dave currently has a consensus rating of “Moderate Buy” and a consensus target price of $433.25.

Dave Price Performance

Shares of NASDAQ DAVE opened at $316.79 on Friday. The firm has a market cap of $4.04 billion, a P/E ratio of 20.54 and a beta of 3.92. Dave has a twelve month low of $152.21 and a twelve month high of $458.25. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average of $353.53 and a 200 day moving average of $286.37.

Dave (NASDAQ:DAVE) last issued its earnings results on Wednesday, August 5th. The fintech company reported $0.49 EPS for the quarter, missing the consensus estimate of $3.44 by ($2.95). The business had revenue of $170.79 million for the quarter, compared to analysts’ expectations of $171.11 million. Dave had a net margin of 34.58% and a return on equity of 77.46%. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, research analysts expect that Dave will post 13.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Dave

A number of large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its stake in shares of Dave by 1.5% during the third quarter. SBI Securities Co. Ltd. now owns 1,812 shares of the fintech company’s stock valued at $583,000 after buying an additional 27 shares during the last quarter. Allworth Financial LP boosted its holdings in Dave by 25.4% during the 2nd quarter. Allworth Financial LP now owns 143 shares of the fintech company’s stock valued at $53,000 after acquiring an additional 29 shares during the period. Nisa Investment Advisors LLC grew its position in Dave by 12.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 412 shares of the fintech company’s stock valued at $132,000 after acquiring an additional 46 shares during the last quarter. Signaturefd LLC increased its stake in Dave by 119.2% in the third quarter. Signaturefd LLC now owns 114 shares of the fintech company’s stock worth $37,000 after purchasing an additional 62 shares during the period. Finally, GAMMA Investing LLC increased its stake in Dave by 43.9% in the second quarter. GAMMA Investing LLC now owns 223 shares of the fintech company’s stock worth $83,000 after purchasing an additional 68 shares during the period. 18.01% of the stock is owned by hedge funds and other institutional investors.

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.