Dave (NASDAQ:DAVE) Cut to “Sell” at Wall Street Zen

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

DAVE has been the topic of a number of other research reports. Loop Capital assumed coverage on shares of Dave in a report on Wednesday, September 9th. They set a “buy” rating and a $500.00 target price on the stock. Weiss Ratings raised shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 16th. Benchmark boosted their price target on shares of Dave from $345.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Evercore assumed coverage on shares of Dave in a report on Wednesday, May 27th. They issued a “hold” rating and a $260.00 price target on the stock. Finally, JPMorgan Chase & Co. began coverage on Dave in a research report on Tuesday, September 15th. They issued an “overweight” rating and a $480.00 price objective on the stock. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $433.25.

Dave Stock Performance

Shares of DAVE opened at $350.65 on Friday. The stock’s 50-day simple moving average is $373.98 and its 200 day simple moving average is $299.73. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.74 and a beta of 3.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22. Dave has a 52-week low of $152.21 and a 52-week high of $458.25.

Dave (NASDAQ:DAVE) last posted its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Research analysts forecast that Dave will post 13.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Dave

A number of institutional investors have recently made changes to their positions in DAVE. Jefferies Financial Group Inc. purchased a new stake in Dave in the fourth quarter worth approximately $27,874,000. Estuary Capital Management LP purchased a new position in shares of Dave during the first quarter worth approximately $20,556,000. Cooper Creek Partners Management LLC bought a new stake in shares of Dave in the 1st quarter worth approximately $18,313,000. Geode Capital Management LLC lifted its holdings in shares of Dave by 31.1% in the 4th quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company’s stock worth $70,483,000 after acquiring an additional 75,576 shares during the last quarter. Finally, Granahan Investment Management LLC lifted its holdings in shares of Dave by 3,325.5% in the 1st quarter. Granahan Investment Management LLC now owns 65,462 shares of the fintech company’s stock worth $11,396,000 after acquiring an additional 63,551 shares during the last quarter. Institutional investors own 18.01% of the company’s stock.

Dave Company Profile

Dave Inc is a financial technology company that operates a digital banking platform designed to help consumers manage everyday finances. Through its mobile application, the company provides tools intended to support budgeting, spending, saving and access to short-term funds.

Dave’s products include Dave Spending, a spending account and debit card offering, as well as budgeting and automatic savings features. Its ExtraCash product provides eligible users with access to advances intended to help manage short-term cash needs.