Dave (NASDAQ:DAVE) Shares Gap Down – Here’s What Happened

Dave Inc. (NASDAQ:DAVE) gapped down prior to trading on Thursday. The stock had previously closed at $336.22, but opened at $295.66. Dave shares last traded at $265.7140, with a volume of 164,001 shares.

Key Stories Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Dave raised its 2026 revenue and profit outlook, citing member growth, improving credit performance and expansion of ExtraCash. Article: DAVE Q3 Earnings Call Highlights Higher Outlook and Credit Gains
• Positive Sentiment: Third-quarter revenue grew 31% year over year to about $198 million, while adjusted EBITDA rose 39% to $82 million. Record new-member acquisition and higher average revenue per user supported growth. Article: Dave Reports Third Quarter 2026 Financial Results
• Positive Sentiment: Credit indicators improved: the 28-day delinquency rate declined to 2.09%, and Dave’s net monetization rate reached 5.2%, its highest level in five years. These trends may ease concerns about lending quality and support profitability. Article: Dave Reports Third Quarter 2026 Financial Results
• Negative Sentiment: The $4.39 per-share result missed the $4.45 Zacks estimate, a likely source of selling pressure despite revenue exceeding estimates and the raised outlook. Article: Dave Inc. Q3 Earnings Miss Estimates

Analysts Set New Price Targets

Several analysts have recently commented on the company. Freedom Capital upgraded Dave to a “hold” rating in a report on Thursday, July 30th. Citizens Jmp boosted their target price on Dave from $450.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 6th. Loop Capital assumed coverage on Dave in a research note on Wednesday, September 9th. They set a “buy” rating and a $500.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Dave in a research report on Tuesday, September 15th. They set an “overweight” rating and a $480.00 target price on the stock. Finally, Weiss Ratings cut Dave from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Dave presently has an average rating of “Moderate Buy” and an average target price of $433.25.

Dave Stock Performance

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 company has a market cap of $3.39 billion, a PE ratio of 17.17 and a beta of 4.07. The firm’s 50-day simple moving average is $351.80 and its two-hundred day simple moving average is $288.29.

Dave (NASDAQ:DAVE) last posted its quarterly earnings results on Wednesday, November 4th. The fintech company reported $4.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.09 by $0.30. Dave had a net margin of 34.58% and a return on equity of 77.46%. The business had revenue of $197.70 million during the quarter, compared to analysts’ expectations of $191.89 million. As a group, research analysts anticipate that Dave Inc. will post 13.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dave

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Estuary Capital Management LP acquired a new stake in Dave during the 1st quarter worth about $20,556,000. Cooper Creek Partners Management LLC acquired a new position in shares of Dave in the first quarter valued at about $18,313,000. Granahan Investment Management LLC increased its holdings in shares of Dave by 3,325.5% in the first quarter. Granahan Investment Management LLC now owns 65,462 shares of the fintech company’s stock valued at $11,396,000 after purchasing an additional 63,551 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Dave by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock valued at $44,069,000 after purchasing an additional 42,262 shares during the period. Finally, Globeflex Capital L P purchased a new position in shares of Dave in the second quarter worth about $11,403,000. Hedge funds and other 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 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.