Dave (NASDAQ:DAVE) Shares Up 5.9% – Here’s What Happened

Dave Inc. (NASDAQ:DAVE)’s stock price traded up 5.9% during trading on Wednesday . The stock traded as high as $370.32 and last traded at $369.95. Approximately 134,128 shares were traded during mid-day trading, a decline of 76% from the average session volume of 559,810 shares. The stock had previously closed at $349.47.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Citizens Jmp lifted their price objective on Dave from $450.00 to $475.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Canaccord Genuity Group raised their price target on shares of Dave from $342.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Evercore assumed coverage on shares of Dave in a report on Wednesday, May 27th. They issued a “hold” rating and a $260.00 price target on the stock. B. Riley Financial upped their target price on shares of Dave from $370.00 to $449.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings raised shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $410.82.

Dave Stock Up 0.5%

The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 24.25 and a beta of 3.83. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average of $373.43 and a 200-day moving average of $277.73.

Dave (NASDAQ:DAVE) last issued its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($2.95). The company had revenue of $170.79 million during 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. As a group, sell-side analysts forecast that Dave Inc. will post 13.71 EPS for the current fiscal year.

Insider Transactions at Dave

In related news, CEO Jason Wilk sold 8,474 shares of Dave stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total value of $2,330,773.70. Following the sale, the chief executive officer directly owned 299,950 shares in the company, valued at $82,501,247.50. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dan Preston sold 275 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $247.65, for a total transaction of $68,103.75. Following the transaction, the director directly owned 5,466 shares of the company’s stock, valued at $1,353,654.90. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 23.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dave

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System grew its holdings in Dave by 33,721.3% in the 2nd quarter. California State Teachers Retirement System now owns 4,446,489 shares of the fintech company’s stock worth $1,656,717,000 after buying an additional 4,433,342 shares in the last quarter. Vanguard Group Inc. boosted its position in Dave by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 685,839 shares of the fintech company’s stock worth $151,852,000 after acquiring an additional 30,546 shares during the period. Renaissance Technologies LLC boosted its position in Dave by 29.2% during the 4th quarter. Renaissance Technologies LLC now owns 499,100 shares of the fintech company’s stock worth $110,506,000 after acquiring an additional 112,700 shares during the period. Geode Capital Management LLC grew its stake in shares of Dave by 31.1% in the fourth quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company’s stock worth $70,483,000 after purchasing an additional 75,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Dave by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock worth $44,069,000 after purchasing an additional 42,262 shares in the last quarter. Institutional investors own 18.01% of the company’s stock.

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.