Dave (NASDAQ:DAVE) Shares Down 6.8% – Here’s Why

Shares of Dave Inc. (NASDAQ:DAVE) traded down 6.8% during mid-day trading on Wednesday . The company traded as low as $337.83 and last traded at $329.4970. Approximately 31,827 shares traded hands during trading, a decline of 94% from the average daily volume of 535,124 shares. The stock had previously closed at $353.57.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DAVE. Keefe, Bruyette & Woods lifted their price target on Dave from $485.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 16th. Zacks Research downgraded Dave from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. JPMorgan Chase & Co. initiated coverage on Dave in a research report on Tuesday, September 15th. They issued an “overweight” rating and a $480.00 price target on the stock. Finally, Loop Capital began coverage on Dave in a research report on Wednesday, September 9th. They issued a “buy” rating and a $500.00 target price for the company. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Dave presently has a consensus rating of “Moderate Buy” and a consensus target price of $433.25.

Dave Price Performance

The company has a 50 day simple moving average of $372.72 and a 200 day simple moving average of $300.74. The stock has a market cap of $4.18 billion, a P/E ratio of 21.22 and a beta of 3.83. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.93.

Dave (NASDAQ:DAVE) last released its quarterly earnings data on Wednesday, August 5th. The fintech company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($2.95). The firm had revenue of $170.79 million for the quarter, compared to analyst estimates of $171.11 million. Dave had a return on equity of 77.46% and a net margin of 34.58%.Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Sell-side analysts forecast that Dave Inc. will post 12.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dave

A number of hedge funds and other institutional investors have recently bought and sold shares of DAVE. Geode Capital Management LLC increased its position in shares of Dave by 31.1% during the fourth quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company’s stock worth $70,483,000 after buying an additional 75,576 shares during the period. Dimensional Fund Advisors LP boosted its position in Dave by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock valued at $44,069,000 after acquiring an additional 42,262 shares during the last quarter. Estuary Capital Management LP acquired a new stake in Dave during the 1st quarter worth about $20,556,000. Cooper Creek Partners Management LLC bought a new position in shares of Dave in the 1st quarter worth about $18,313,000. Finally, Sei Investments Co. raised its position in shares of Dave by 21.4% in the 1st quarter. Sei Investments Co. now owns 98,435 shares of the fintech company’s stock worth $17,135,000 after acquiring an additional 17,320 shares in the last quarter. Institutional investors own 18.01% of the company’s stock.

About Dave

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.