Dave (NASDAQ:DAVE) Shares Gap Up – Should You Buy?

Dave Inc. (NASDAQ:DAVE)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $365.78, but opened at $377.48. Dave shares last traded at $379.7930, with a volume of 44,533 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DAVE shares. Weiss Ratings lowered Dave from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. UBS Group raised their price target on Dave from $300.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Barrington Research boosted their price target on Dave from $290.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, June 12th. Lake Street Capital restated a “buy” rating and issued a $450.00 price objective on shares of Dave in a research report on Thursday, August 6th. Finally, Zacks Research lowered Dave from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Dave presently has a consensus rating of “Moderate Buy” and a consensus price target of $433.25.

Dave Trading Up 3.5%

The company has a debt-to-equity ratio of 0.93, a current ratio of 4.22 and a quick ratio of 4.22. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 24.56 and a beta of 3.83. The business’s 50-day moving average price is $377.07 and its two-hundred day moving average price is $293.96.

Dave (NASDAQ:DAVE) last announced its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Equities analysts expect that Dave Inc. will post 13.71 earnings per share for the current year.

Institutional Investors Weigh In On Dave

Several hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in Dave by 33,721.3% in the second quarter. California State Teachers Retirement System now owns 4,446,489 shares of the fintech company’s stock valued at $1,656,717,000 after purchasing an additional 4,433,342 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 buying an additional 75,576 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Dave by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock valued at $44,069,000 after buying an additional 42,262 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Dave in the 4th quarter valued at about $27,874,000. Finally, Estuary Capital Management LP purchased a new stake in Dave in the 1st quarter valued at about $20,556,000. Institutional investors and hedge funds 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.