Dave (NASDAQ:DAVE) Earns In-Line Rating from Analysts at Evercore

Analysts at Evercore started coverage on shares of Dave (NASDAQ:DAVE) in a report issued on Wednesday, MarketBeat reports. The firm set an “in-line” rating and a $260.00 price target on the fintech company’s stock. Evercore’s target price indicates a potential upside of 1.73% from the stock’s current price.

DAVE has been the topic of a number of other research reports. William Blair restated an “accumulate” rating on shares of Dave in a report on Friday, March 13th. Wall Street Zen lowered Dave from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Lake Street Capital reiterated a “buy” rating and issued a $332.00 price target on shares of Dave in a report on Wednesday, May 6th. B. Riley Financial raised their target price on shares of Dave from $297.00 to $303.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Dave from $295.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. One research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.70.

Dave Trading Up 2.5%

Shares of Dave stock traded up $6.23 on Wednesday, hitting $255.58. The stock had a trading volume of 65,342 shares, compared to its average volume of 549,496. The stock’s 50-day simple moving average is $224.42 and its two-hundred day simple moving average is $209.58. Dave has a one year low of $152.21 and a one year high of $287.69. 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 has a market cap of $3.25 billion, a price-to-earnings ratio of 16.46 and a beta of 3.93.

Dave (NASDAQ:DAVE) last announced its quarterly earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.78. Dave had a net margin of 37.22% and a return on equity of 77.70%. The business had revenue of $158.40 million during the quarter, compared to analysts’ expectations of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, sell-side analysts predict that Dave will post 14.49 EPS for the current year.

Dave announced that its board has authorized a share buyback program on Monday, March 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the fintech company to repurchase up to 11.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Dave

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in shares of Dave by 22.7% in the 3rd quarter. Principal Financial Group Inc. now owns 67,792 shares of the fintech company’s stock worth $13,514,000 after purchasing an additional 12,555 shares during the last quarter. SG Americas Securities LLC increased its stake in Dave by 2,267.1% during the 4th quarter. SG Americas Securities LLC now owns 88,552 shares of the fintech company’s stock valued at $19,606,000 after purchasing an additional 84,811 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Dave in the third quarter worth about $1,826,000. Wilson Asset Management International PTY Ltd. bought a new stake in shares of Dave during the third quarter valued at approximately $1,561,000. Finally, Pictet Asset Management Holding SA raised its holdings in Dave by 372.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,841 shares of the fintech company’s stock worth $1,293,000 after acquiring an additional 4,604 shares during the last quarter. 18.01% of the stock is currently 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.