Dave (NASDAQ:DAVE) Shares Gap Down After Analyst Downgrade

Shares of Dave Inc. (NASDAQ:DAVE) gapped down prior to trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $480.00 to $435.00. The stock had previously closed at $336.22, but opened at $295.66. JPMorgan Chase & Co. currently has an overweight rating on the stock. Dave shares last traded at $265.7140, with a volume of 164,001 shares trading hands.

A number of other analysts have also weighed in on DAVE. Zacks Research lowered shares of Dave from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Seaport Research Partners reaffirmed a “buy” rating and set a $422.00 price target on shares of Dave in a research report on Thursday, October 8th. Keefe, Bruyette & Woods increased their price objective on Dave from $485.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Lake Street Capital reiterated a “buy” rating and issued a $450.00 price objective on shares of Dave in a research report on Thursday, August 6th. Finally, Citigroup reissued an “outperform” rating on shares of Dave in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $425.69.

Dave News Summary

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Dave raised its 2026 revenue and profit outlook, citing member growth, improving credit performance and expansion of its ExtraCash product. These growth and credit trends could support future results. Article: DAVE Q3 Earnings Call Highlights Higher Outlook and Credit Gains
• Negative Sentiment: Third-quarter EPS of $4.39 fell short of Zacks’ $4.45 consensus estimate. The earnings shortfall contributed to the stock’s post-report selloff despite higher revenue and raised guidance. Article: Dave Inc. Q3 Earnings Miss Estimates
• Negative Sentiment: Kirby McInerney LLP announced an investigation into potential securities-law violations or other unlawful business practices. Another law firm also announced an investigation following the November 4 disclosure. These are allegations under investigation, not findings of wrongdoing, but the announcements may add uncertainty for investors. Article: Dave, Inc. Investigation
• Negative Sentiment: JPMorgan cut its price target to $435 from $480, though it kept an Overweight rating. The shares also reportedly fell below their 200-day moving average after an analyst downgrade, a potentially bearish technical signal. Article: JPMorgan Cuts Dave Price Target

Institutional Trading of Dave

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Estuary Capital Management LP purchased a new position in Dave during the 1st quarter valued at about $20,556,000. Cooper Creek Partners Management LLC bought a new position in shares of Dave during the first quarter valued at approximately $18,313,000. Granahan Investment Management LLC increased its stake 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 valued at $11,396,000 after purchasing an additional 63,551 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Dave by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company’s stock valued at $44,069,000 after purchasing an additional 42,262 shares in the last quarter. Finally, Globeflex Capital L P purchased a new position in shares of Dave during the second quarter valued at approximately $11,403,000. 18.01% of the stock is owned by hedge funds and other institutional investors.

Dave Stock Up 1.2%

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 $3.55 billion, a PE ratio of 22.50 and a beta of 4.07. The company’s fifty day moving average price is $347.96 and its 200-day moving average price is $289.16.

Dave (NASDAQ:DAVE) last released its earnings results on Wednesday, November 4th. The fintech company reported $4.39 EPS for the quarter, topping the consensus estimate of $4.09 by $0.30. Dave had a return on equity of 77.46% and a net margin of 34.58%. The business had revenue of $197.70 million for the quarter, compared to the consensus estimate of $191.89 million. Analysts forecast that Dave Inc. will post 13.04 earnings per share for the current year.

About Dave

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.