Dave (NASDAQ:DAVE) Upgraded by Piper Sandler to “Strong-Buy” Rating

Dave (NASDAQ:DAVE) was upgraded by Piper Sandler to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Citizens Jmp raised their target price on Dave from $450.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 6th. Evercore started coverage on Dave in a report on Wednesday, May 27th. They issued a “hold” rating and a $260.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on Dave from $485.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. B. Riley Financial boosted their target price on Dave from $370.00 to $449.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, UBS Group upped their target price on Dave from $300.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Dave presently has an average rating of “Moderate Buy” and an average price target of $410.82.

Dave Stock Up 2.1%

Shares of NASDAQ DAVE opened at $341.43 on Monday. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.93. Dave has a 52 week low of $152.21 and a 52 week high of $458.25. The firm’s fifty day moving average is $363.65 and its 200 day moving average is $267.44. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 22.14 and a beta of 3.83.

Dave (NASDAQ:DAVE) last announced its quarterly 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 firm had revenue of $170.79 million for the quarter, compared to analysts’ expectations of $171.11 million. Dave had a net margin of 34.58% and a return on equity of 77.46%. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. On average, equities research analysts expect that Dave will post 13.89 earnings per share for the current year.

Insider Activity at Dave

In other Dave news, Director Dan Preston sold 275 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the transaction, the director owned 5,466 shares in the company, valued at approximately $1,353,654.90. This represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason Wilk sold 8,474 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 299,950 shares of the company’s stock, valued at $82,501,247.50. This represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 23.59% of the company’s stock.

Institutional Investors Weigh In On Dave

Several hedge funds have recently made changes to their positions in the company. Meros Investment Management LP purchased a new stake in Dave in the second quarter worth $767,535,000. Ancora Advisors LLC bought a new position in Dave in the second quarter worth $3,446,000. Globeflex Capital L P purchased a new position in Dave during the second quarter valued at $11,403,000. Great Lakes Advisors LLC purchased a new position in Dave during the second quarter valued at $1,106,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Dave by 21.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,300 shares of the fintech company’s stock valued at $857,000 after buying an additional 400 shares in the last quarter. 18.01% of the stock is currently owned by 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.