Dave (NASDAQ:DAVE) Upgraded to “Strong-Buy” at UBS Group

UBS Group upgraded shares of Dave (NASDAQ:DAVE) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Other analysts also recently issued reports about the company. William Blair restated an “accumulate” rating on shares of Dave in a research note on Friday, March 13th. Citigroup restated an “outperform” rating on shares of Dave in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods raised their target price on Dave from $295.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. B. Riley Financial raised their target price on Dave from $358.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citizens Jmp raised their target price on Dave from $335.00 to $365.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Dave presently has an average rating of “Buy” and a consensus price target of $323.40.

Dave Stock Performance

Shares of Dave stock opened at $256.26 on Tuesday. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $225.36 and a two-hundred day moving average price of $209.81. The company has a market cap of $3.26 billion, a P/E ratio of 16.48 and a beta of 3.93. Dave has a 1-year low of $152.21 and a 1-year high of $287.69.

Dave (NASDAQ:DAVE) last issued its earnings results on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, beating the consensus estimate of $2.86 by $0.78. The company had revenue of $158.40 million during the quarter, compared to the consensus estimate of $153.67 million. Dave had a return on equity of 77.70% and a net margin of 37.22%.Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, analysts anticipate that Dave will post 14.49 EPS for the current year.

Dave declared that its Board of Directors has authorized a stock buyback plan on Monday, March 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the fintech company to buy up to 11.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Dave

Several large investors have recently added to or reduced their stakes in DAVE. JPMorgan Chase & Co. lifted its position in Dave by 0.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock valued at $2,412,000 after acquiring an additional 65 shares in the last quarter. Prudential Financial Inc. bought a new position in Dave in the 2nd quarter valued at about $324,000. Invesco Ltd. lifted its position in Dave by 2,379.9% in the 2nd quarter. Invesco Ltd. now owns 97,485 shares of the fintech company’s stock valued at $26,166,000 after acquiring an additional 93,554 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Dave during the 2nd quarter worth approximately $18,710,000. Finally, Cresset Asset Management LLC bought a new position in shares of Dave during the 2nd quarter worth approximately $402,000. Institutional investors own 18.01% of the company’s stock.

Dave News Roundup

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Evercore began coverage of Dave Inc. with an in-line rating and a $260 price target, suggesting the stock is viewed as roughly fairly valued but still supported by analysts. Evercore coverage referenced in market news
• Positive Sentiment: Zacks added Dave Inc. (DAVE) to its Strong Buy list, which may attract momentum-oriented investors and reinforce bullish sentiment. New Strong Buy Stocks for May 27th
• Neutral Sentiment: Several articles mentioning “Dave” refer to Dave Ramsey, Dave Chappelle, Dave Filoni, or Dave & Buster’s and appear unrelated to Dave Inc.’s business performance. Dave Ramsey article

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.