Dave (NASDAQ:DAVE) Rating Increased to Hold at Freedom Capital

Dave (NASDAQ:DAVE) was upgraded by investment analysts at Freedom Capital to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Lake Street Capital reaffirmed a “buy” rating and set a $332.00 target price on shares of Dave in a research report on Wednesday, May 6th. Barrington Research increased their price target on Dave from $290.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, June 12th. Citigroup reissued an “outperform” rating on shares of Dave in a research report on Thursday, July 9th. Weiss Ratings upgraded Dave from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 17th. Finally, UBS Group lifted their price objective on Dave from $300.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $379.40.

Dave Stock Performance

Shares of NASDAQ:DAVE opened at $372.69 on Thursday. The firm has a market cap of $4.74 billion, a PE ratio of 23.97 and a beta of 3.82. The firm’s 50 day simple moving average is $343.41 and its 200-day simple moving average is $254.46. Dave has a one year low of $152.21 and a one year high of $458.25. 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 posted 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 firm had revenue of $158.41 million during the quarter, compared to the consensus estimate of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, equities analysts predict that Dave will post 15.66 EPS for the current year.

Insider Buying and Selling

In other Dave news, CEO Jason Wilk sold 8,474 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the completion of the sale, the chief executive officer owned 299,950 shares in the company, valued at $82,501,247.50. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dan Preston sold 275 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $247.65, for a total value of $68,103.75. Following the sale, the director directly owned 5,466 shares in the company, valued at $1,353,654.90. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 28.48% of the company’s stock.

Institutional Investors Weigh In On Dave

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock valued at $2,412,000 after purchasing an additional 65 shares during the last quarter. Prudential Financial Inc. bought a new position in Dave in the second quarter worth about $324,000. Invesco Ltd. lifted its position in shares of Dave by 2,379.9% during the second quarter. Invesco Ltd. now owns 97,485 shares of the fintech company’s stock valued at $26,166,000 after buying an additional 93,554 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Dave during the second quarter valued at about $18,710,000. Finally, Cresset Asset Management LLC bought a new stake in shares of Dave in the 2nd quarter valued at about $402,000. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

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.