Dave (NASDAQ:DAVE) Shares Gap Down After Earnings Miss

Dave Inc. (NASDAQ:DAVE)’s stock price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $430.16, but opened at $385.97. Dave shares last traded at $373.7770, with a volume of 265,587 shares trading hands.

The fintech company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $3.44 by ($2.95). The business had revenue of $170.79 million for the quarter, compared to the consensus estimate of $171.11 million. Dave had a return on equity of 77.70% and a net margin of 37.22%.Dave has set its FY 2026 guidance at 17.000-17.500 EPS.

More Dave News

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Analysts raised price targets and maintained bullish ratings. Keefe, Bruyette & Woods increased its target from $485 to $490 and assigned an “outperform” rating. Citizens JMP raised its target from $450 to $475 and reiterated “market outperform,” implying substantial upside from recent trading levels. Benzinga analyst price-target reports
• Positive Sentiment: Dave raised its 2026 financial guidance. The company now expects adjusted earnings per share of $17.00–$17.50, above the $16.36 consensus estimate, and revenue of $725 million–$735 million, compared with the $714.7 million consensus. Dave Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Underlying operating trends were strong. Second-quarter revenue grew 30% year over year to $170.8 million, adjusted EBITDA rose 48% to $75.5 million, ExtraCash originations increased 27% to $2.3 billion, and the 28-day delinquency rate improved to 2.12%. Dave Q2 financial results
• Neutral Sentiment: Reported earnings figures are mixed across sources. One report cited quarterly EPS of $0.49, well below expectations, while Zacks reported $4.12 per share versus a $3.69 consensus. Dave said net income included $36.9 million of non-cash warrant and earnout remeasurement charges, which may have distorted headline results. Dave tops Q2 earnings and revenue estimates
• Negative Sentiment: The headline EPS miss may be weighing on the stock. MarketBeat reported EPS of $0.49 versus a $3.44 consensus, while revenue was essentially in line with estimates at $170.8 million versus $171.1 million. The conflicting earnings data and elevated valuation may be prompting profit-taking despite stronger adjusted metrics and guidance.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DAVE. Keefe, Bruyette & Woods boosted their target price on Dave from $485.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday. Lake Street Capital reissued a “buy” rating and issued a $332.00 price target on shares of Dave in a research note on Wednesday, May 6th. Freedom Capital raised Dave to a “hold” rating in a research note on Thursday, July 30th. Citizens Jmp boosted their price objective on Dave from $450.00 to $475.00 and gave the stock a “market outperform” rating in a report on Thursday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Dave in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Dave currently has an average rating of “Moderate Buy” and an average target price of $401.10.

Insiders Place Their Bets

In other news, Director Dan Preston sold 275 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total value of $68,103.75. Following the completion of the sale, the director owned 5,466 shares of the company’s stock, valued at $1,353,654.90. This trade represents a 4.79% decrease in their ownership of the stock. 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 Dave stock in a transaction on 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 transaction, the chief executive officer owned 299,950 shares in the company, valued at $82,501,247.50. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. 23.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dave

A number of institutional investors have recently bought and sold shares of DAVE. Handelsbanken Fonder AB grew its stake in Dave by 21.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,300 shares of the fintech company’s stock valued at $857,000 after acquiring an additional 400 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Dave by 24.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,710 shares of the fintech company’s stock worth $1,382,000 after purchasing an additional 730 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Dave in the second quarter worth approximately $745,000. GAMMA Investing LLC boosted its holdings in shares of Dave by 43.9% during the second 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. Finally, Prospect Capital Advisors LLC grew its position in Dave by 39.4% during the first quarter. Prospect Capital Advisors LLC now owns 52,240 shares of the fintech company’s stock valued at $9,094,000 after purchasing an additional 14,760 shares in the last quarter. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Dave Price Performance

The stock has a market capitalization of $4.81 billion, a PE ratio of 24.21 and a beta of 3.83. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95. The stock’s 50-day moving average is $353.90 and its 200 day moving average is $259.45.

About Dave

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.