Dave (NASDAQ:DAVE) Trading Up 7.4% – Still a Buy?

Dave Inc. (NASDAQ:DAVE)’s share price shot up 7.4% on Thursday . The stock traded as high as $274.65 and last traded at $275.2020. 133,067 shares traded hands during trading, a decline of 76% from the average session volume of 549,818 shares. The stock had previously closed at $256.26.

More Dave News

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Dave Inc. will be added to the S&P SmallCap 600 Index on June 1, a milestone that can increase institutional visibility and passive fund buying. Dave To Join S&P SmallCap 600 Index
• Positive Sentiment: UBS began coverage of Dave with a buy rating and a $300 target, signaling continued confidence in the stock’s upside. UBS coverage update
• Positive Sentiment: Recent commentary also pointed to Dave as being in the “winner’s circle” of fintech, adding to the constructive sentiment around the name. Seeking Alpha article
• Neutral Sentiment: Other headlines in the feed were unrelated to Dave Inc.’s core business, including stories about Dave’s Hot Chicken, Dave & Buster’s, and public figures named Dave, and are unlikely to materially affect DAVE shares.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wall Street Zen cut shares of Dave from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. William Blair reiterated an “accumulate” rating on shares of Dave in a report on Friday, March 13th. Weiss Ratings raised Dave from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Canaccord Genuity Group increased their price target on Dave from $328.00 to $342.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.40.

Dave Stock Up 5.1%

The firm has a market capitalization of $3.59 billion, a P/E ratio of 18.17 and a beta of 3.93. The firm’s 50-day moving average is $228.06 and its 200 day moving average is $210.55. 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 released its earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.78. Dave had a return on equity of 77.70% and a net margin of 37.22%.The firm had revenue of $158.40 million during the quarter, compared to analysts’ expectations of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, equities research analysts predict that Dave Inc. will post 14.7 EPS for the current fiscal year.

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

Institutional Investors Weigh In On Dave

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brevan Howard Capital Management LP raised its holdings in Dave by 1.6% during the third quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company’s stock worth $767,000 after acquiring an additional 62 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock valued at $2,412,000 after purchasing an additional 65 shares in the last quarter. Blue Trust Inc. grew its stake in Dave by 106.8% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock valued at $34,000 after purchasing an additional 79 shares in the last quarter. Arizona State Retirement System increased its position in shares of Dave by 3.3% during the 3rd quarter. Arizona State Retirement System now owns 2,787 shares of the fintech company’s stock worth $556,000 after purchasing an additional 88 shares during the last quarter. Finally, Westend Capital Management LLC increased its position in shares of Dave by 100.0% during the 4th quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 18.01% of the company’s stock.

Dave Company Profile

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.