Dave (NASDAQ:DAVE) Shares Down 9.1% – Here’s What Happened

Dave Inc. (NASDAQ:DAVE) shares dropped 9.1% on Monday. The stock traded as low as $320.89 and last traded at $322.4950. Approximately 239,374 shares were traded during trading, a decline of 53% from the average daily volume of 508,099 shares. The stock had previously closed at $354.60.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DAVE shares. Piper Sandler started coverage on shares of Dave in a report on Monday, August 17th. They issued an “overweight” rating and a $390.00 target price on the stock. Benchmark upped their price target on shares of Dave from $345.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. initiated coverage on Dave in a report on Tuesday, September 15th. They set an “overweight” rating and a $480.00 price target for the company. B. Riley Financial lifted their price objective on Dave from $370.00 to $449.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, UBS Group reissued a “buy” rating on shares of Dave in a research note on Thursday, October 1st. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $433.25.

Dave Trading Down 8.2%

The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $4.15 billion, a P/E ratio of 21.04 and a beta of 3.92. The firm’s 50 day simple moving average is $355.72 and its two-hundred day simple moving average is $325.39.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates 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. As a group, analysts forecast that Dave Inc. will post 13.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in 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 buying an additional 42,262 shares during the period. Estuary Capital Management LP bought a new stake in shares of Dave during the first quarter valued at approximately $20,556,000. Cooper Creek Partners Management LLC bought a new stake in shares of Dave during the first quarter valued at approximately $18,313,000. Sei Investments Co. increased its holdings in shares of Dave by 21.4% during the first quarter. Sei Investments Co. now owns 98,435 shares of the fintech company’s stock valued at $17,135,000 after acquiring an additional 17,320 shares in the last quarter. Finally, Granahan Investment Management LLC raised its position in shares of Dave by 3,325.5% during the first quarter. Granahan Investment Management LLC now owns 65,462 shares of the fintech company’s stock worth $11,396,000 after purchasing an additional 63,551 shares during the period. 18.01% of the stock is owned by institutional investors and hedge funds.

Dave Company Profile

Dave Inc is a financial technology company that operates a digital banking platform in the United States. The company’s mobile app is designed to help members manage everyday finances, access funds between paychecks and build financial flexibility.

Its primary offerings include ExtraCash, an advance product intended to provide eligible members with access to a portion of their expected income, and Dave Spending, a debit account and associated payment card. Dave also provides budgeting tools, automated savings features through Dave Goals, and Side Hustle resources that help members identify potential ways to earn additional income.

Dave was founded in 2016 by Jason Wilk, who serves as chief executive officer.