Dave (NASDAQ:DAVE) Rating Lowered to Sell at Wall Street Zen

Dave (NASDAQ:DAVE) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also recently issued reports on DAVE. B. Riley Financial increased their price objective on shares of Dave from $370.00 to $449.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Barrington Research boosted their target price on Dave from $290.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, June 12th. Zacks Research downgraded Dave from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Lake Street Capital reaffirmed a “buy” rating and set a $450.00 price target on shares of Dave in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Dave from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $433.25.

Dave Stock Performance

Shares of DAVE stock opened at $337.82 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22. Dave has a 1 year low of $152.21 and a 1 year high of $458.25. The stock has a fifty day moving average of $374.76 and a two-hundred day moving average of $298.74. The firm has a market capitalization of $4.31 billion, a PE ratio of 21.91 and a beta of 3.83.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Wednesday, August 5th. The fintech company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $3.44 by ($2.95). Dave had a net margin of 34.58% and a return on equity of 77.46%. The business had revenue of $170.79 million for the quarter, compared to analyst estimates of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, research analysts expect that Dave will post 13.35 EPS for the current year.

Institutional Trading of Dave

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of Dave by 31.1% during the 4th quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company’s stock valued at $70,483,000 after acquiring an additional 75,576 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Dave by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock worth $44,069,000 after acquiring an additional 42,262 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Dave in the 4th quarter worth $27,874,000. Estuary Capital Management LP acquired a new position in shares of Dave in the 1st quarter worth $20,556,000. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Dave during the first quarter worth $18,313,000. 18.01% of the stock is currently owned by institutional investors.

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.