Dave (NASDAQ:DAVE) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Dave (NASDAQ:DAVE) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other research analysts have also issued research reports about the company. Citigroup restated an “outperform” rating on shares of Dave in a research report on Thursday, August 6th. Freedom Capital upgraded Dave to a “hold” rating in a research report on Thursday, July 30th. Citizens Jmp increased their price target on Dave from $450.00 to $475.00 and gave the company a “market outperform” rating in a research note on Thursday, August 6th. Evercore assumed coverage on Dave in a report on Wednesday, May 27th. They set a “hold” rating and a $260.00 price target for the company. Finally, Benchmark raised their price target on Dave from $345.00 to $475.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $412.90.

Dave Price Performance

Shares of NASDAQ:DAVE opened at $310.00 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22. The firm has a fifty day moving average price of $357.92 and a 200 day moving average price of $263.27. Dave has a fifty-two week low of $152.21 and a fifty-two week high of $458.25. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 20.10 and a beta of 3.83.

Dave (NASDAQ:DAVE) last announced its quarterly earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($2.95). The company had revenue of $170.79 million during the quarter, compared to the consensus estimate 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, sell-side analysts expect that Dave will post 15.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Dave

In other Dave news, 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 value of $68,103.75. Following the completion of the transaction, the director directly owned 5,466 shares of the company’s stock, valued at $1,353,654.90. This trade represents a 4.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jason Wilk sold 8,474 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the completion of the sale, the chief executive officer owned 299,950 shares in the company, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 23.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WealthCollab LLC bought a new stake in Dave during the second quarter worth approximately $30,000. National Bank of Canada FI bought a new stake in shares of Dave in the 3rd quarter valued at approximately $30,000. Kestra Advisory Services LLC bought a new stake in shares of Dave in the 4th quarter valued at approximately $36,000. Harbour Investments Inc. purchased a new position in shares of Dave in the 4th quarter worth approximately $66,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Dave by 43.9% in the 2nd 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. Hedge funds and other institutional investors 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.