Dave (NASDAQ:DAVE) Upgraded to Strong-Buy at Piper Sandler

Piper Sandler upgraded shares of Dave (NASDAQ:DAVE) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Several other research firms have also issued reports on DAVE. Zacks Research lowered Dave from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Freedom Capital upgraded shares of Dave to a “hold” rating in a report on Thursday, July 30th. Evercore began coverage on shares of Dave in a research report on Wednesday, May 27th. They issued a “hold” rating and a $260.00 price objective for the company. B. Riley Financial boosted their price objective on Dave from $370.00 to $449.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods increased their target price on Dave from $485.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $410.82.

Dave Stock Performance

Shares of NASDAQ:DAVE opened at $341.43 on Monday. The stock has a market capitalization of $4.36 billion, a P/E ratio of 22.14 and a beta of 3.83. Dave has a 1-year low of $152.21 and a 1-year high of $458.25. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $363.65 and a two-hundred day moving average price of $267.44.

Dave (NASDAQ:DAVE) last issued its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.44 by ($2.95). Dave had a net margin of 34.58% and a return on equity of 77.46%. The business had revenue of $170.79 million during the quarter, compared to the consensus estimate of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Equities analysts predict that Dave will post 13.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jason Wilk sold 8,474 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dan Preston sold 275 shares of the firm’s 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 sale, the director directly owned 5,466 shares of the company’s stock, valued at $1,353,654.90. This represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 23.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Dave by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 685,839 shares of the fintech company’s stock valued at $151,852,000 after purchasing an additional 30,546 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Dave by 29.2% in the 4th quarter. Renaissance Technologies LLC now owns 499,100 shares of the fintech company’s stock valued at $110,506,000 after purchasing an additional 112,700 shares during the period. Geode Capital Management LLC grew its holdings in Dave by 31.1% in the 4th quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company’s stock valued at $70,483,000 after buying an additional 75,576 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Dave by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock valued at $44,069,000 after buying an additional 42,262 shares in the last quarter. Finally, State Street Corp increased its position in Dave by 10.6% during the 4th quarter. State Street Corp now owns 233,163 shares of the fintech company’s stock worth $51,625,000 after buying an additional 22,274 shares during the period. 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.