Dave (NASDAQ:DAVE) Stock Price Up 7.4% – What’s Next?

Shares of Dave Inc. (NASDAQ:DAVE) rose 7.4% during trading on Thursday . The company traded as high as $274.65 and last traded at $275.2020. Approximately 133,067 shares traded hands during trading, a decline of 76% from the average daily volume of 549,818 shares. The stock had previously closed at $256.26.

More Dave News

Here are the key news stories impacting Dave this week:

• Positive Sentiment: UBS Group initiated coverage on Dave Inc. with a Buy rating and a $300 price target, signaling confidence in further upside for the stock.
• Positive Sentiment: Zacks added Dave Inc. to its Rank #1 (Strong Buy) list, another bullish signal that can attract momentum-focused investors. Article Title
• Neutral Sentiment: Evercore initiated coverage with a Hold rating and a $260 price target, which is below the recent trading level and may temper some of the optimism around the shares.
• Neutral Sentiment: Short-interest data appears to be inconsistent, reporting 0 shares outstanding and no meaningful days-to-cover figure, so it does not currently provide a reliable signal for investors.

Wall Street Analyst Weigh In

DAVE has been the topic of a number of recent analyst reports. UBS Group initiated coverage on shares of Dave in a research report on Tuesday. They set a “buy” rating and a $300.00 price target on the stock. William Blair restated an “accumulate” rating on shares of Dave in a research report on Friday, March 13th. Citigroup restated an “outperform” rating on shares of Dave in a research report on Wednesday, May 6th. Zacks Research raised shares of Dave from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Finally, Weiss Ratings raised shares of Dave from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $323.40.

Dave Price Performance

The company’s 50 day moving average price is $225.36 and its 200-day moving average price is $209.81. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 17.94 and a beta of 3.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.78. The company had revenue of $158.40 million for the quarter, compared to analysts’ expectations of $153.67 million. Dave had a net margin of 37.22% and a return on equity of 77.70%. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. On average, equities research analysts forecast that Dave Inc. will post 14.49 earnings per share for the current fiscal year.

Dave declared that its board has authorized a stock repurchase program on Monday, March 2nd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the fintech company to purchase up to 11.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DAVE. Divisadero Street Capital Management LP increased its position in shares of Dave by 73.1% in the third quarter. Divisadero Street Capital Management LP now owns 925,266 shares of the fintech company’s stock worth $184,452,000 after acquiring an additional 390,676 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Dave by 819.3% in the third quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company’s stock worth $41,666,000 after acquiring an additional 186,273 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in shares of Dave in the third quarter worth approximately $26,726,000. Jefferies Financial Group Inc. acquired a new stake in shares of Dave during the fourth quarter worth approximately $27,874,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Dave by 200.7% during the third quarter. Wellington Management Group LLP now owns 177,103 shares of the fintech company’s stock worth $35,305,000 after purchasing an additional 118,203 shares during the period. 18.01% of the stock is owned by hedge funds and other institutional investors.

Dave Company Profile

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.