Dave (NASDAQ:DAVE) Trading Down 6.4% – What’s Next?

Dave Inc. (NASDAQ:DAVE) shares fell 6.4% during mid-day trading on Thursday . The company traded as low as $401.53 and last traded at $396.62. 92,421 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 579,892 shares. The stock had previously closed at $423.66.

Key Headlines Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Dave Inc. was upgraded to a Strong Buy by Zacks, reflecting improving earnings expectations and potentially drawing more investor interest. DAVE INC (DAVE) Upgraded to Strong Buy: Here’s Why
• Positive Sentiment: Analysts say Dave’s rapid growth, improving credit performance, and broader product offerings give it an edge over competitors. Toast vs. Dave: Which Fintech Disruptor Is Better for Investors Now?
• Positive Sentiment: Dave is being flagged as a candidate to beat upcoming earnings estimates again, which could reinforce the stock’s momentum if results come in strong. Will DAVE INC (DAVE) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: A report noted a sharp increase in short interest, but the data appears unreliable because it shows zero shares and a zero days-to-cover ratio, so it is unlikely to be a meaningful driver. Short Interest Update
• Neutral Sentiment: One market commentary highlighted that Dave shares have been strong year to date, but this was mostly a performance recap rather than a new catalyst. Financials Sector Catalyst Sees Dave Shares up 91% YTD

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. B. Riley Financial raised their target price on Dave from $358.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Evercore assumed coverage on Dave in a research note on Wednesday, May 27th. They set a “hold” rating and a $260.00 price objective for the company. Citigroup reissued an “outperform” rating on shares of Dave in a report on Thursday, July 9th. Canaccord Genuity Group boosted their target price on shares of Dave from $328.00 to $342.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Dave currently has an average rating of “Buy” and a consensus target price of $379.40.

Dave Trading Down 1.4%

The company’s fifty day moving average price is $328.44 and its two-hundred day moving average price is $249.10. 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 company has a market cap of $5.12 billion, a price-to-earnings ratio of 25.90 and a beta of 3.82.

Dave (NASDAQ:DAVE) last announced its earnings results on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, topping the consensus estimate of $2.86 by $0.78. The business had revenue of $158.41 million for the quarter, compared to the consensus estimate of $153.67 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 16.250-16.750 EPS. Research analysts expect that Dave Inc. will post 15.66 earnings per share for the current year.

Insiders Place Their Bets

In other Dave news, Director Dan Preston sold 275 shares of the business’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 transaction, the director owned 5,466 shares of the company’s stock, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason Wilk sold 8,474 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total value of $2,330,773.70. Following the sale, the chief executive officer owned 299,950 shares in the company, valued at $82,501,247.50. The trade was a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 28.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dave

A number of hedge funds have recently added to or reduced their stakes in the stock. WealthCollab LLC acquired a new stake in Dave in the 2nd quarter valued at about $30,000. National Bank of Canada FI acquired a new position in shares of Dave during the third quarter worth approximately $30,000. Blue Trust Inc. lifted its position in shares of Dave by 106.8% during the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock worth $34,000 after purchasing an additional 79 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Dave during the fourth quarter valued at approximately $36,000. Finally, Westend Capital Management LLC grew its stake in shares of Dave by 100.0% during the fourth quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 18.01% of the company’s stock.

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.