TD Waterhouse Canada Inc. Buys New Shares in Dave Inc. $DAVE

TD Waterhouse Canada Inc. bought a new position in Dave Inc. (NASDAQ:DAVE) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 17,204 shares of the fintech company’s stock, valued at approximately $5,842,000. TD Waterhouse Canada Inc. owned approximately 0.13% of Dave at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GK Wealth Management LLC bought a new position in shares of Dave in the third quarter worth approximately $34,000. Allworth Financial LP raised its position in shares of 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 purchasing an additional 29 shares during the period. GAMMA Investing LLC raised its position in shares of Dave by 43.9% during the 2nd quarter. GAMMA Investing LLC now owns 223 shares of the fintech company’s stock valued at $83,000 after purchasing an additional 68 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Dave during the 2nd quarter valued at $137,000. Finally, New York State Teachers Retirement System lifted its stake in shares of Dave by 13.8% during the 1st quarter. New York State Teachers Retirement System now owns 956 shares of the fintech company’s stock valued at $166,000 after buying an additional 116 shares in the last quarter. Institutional investors own 18.01% of the company’s stock.

Dave Trading Down 2.2%

Shares of DAVE opened at $359.46 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.22 and a quick ratio of 4.22. Dave Inc. has a 1 year low of $152.21 and a 1 year high of $458.25. The company has a 50 day simple moving average of $352.06 and a two-hundred day simple moving average of $319.86. The firm has a market cap of $4.59 billion, a P/E ratio of 23.31 and a beta of 3.92.

Dave (NASDAQ:DAVE) last released its quarterly earnings data 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 company had revenue of $170.79 million for the quarter, compared to the consensus estimate of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. On average, equities analysts expect that Dave Inc. will post 13.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. B. Riley Financial upped their target price on shares of Dave from $370.00 to $449.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Dave from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Loop Capital started coverage on Dave in a report on Wednesday, September 9th. They set a “buy” rating and a $500.00 price target on the stock. Freedom Capital raised Dave to a “hold” rating in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on Dave from $485.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $433.25.

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.