Dave (NASDAQ:DAVE) Trading Down 6.6% – Here’s What Happened

Dave Inc. (NASDAQ:DAVE)’s share price was down 6.6% during trading on Tuesday . The stock traded as low as $335.06 and last traded at $335.8540. 217,936 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 555,469 shares. The stock had previously closed at $359.52.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DAVE shares. Lake Street Capital reissued a “buy” rating and set a $450.00 price target on shares of Dave in a research report on Thursday, August 6th. Citigroup restated an “outperform” rating on shares of Dave in a research report on Thursday, August 6th. Zacks Research lowered Dave from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Finally, Barrington Research upped their target price on shares of Dave from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, June 12th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Dave presently has an average rating of “Moderate Buy” and a consensus price target of $410.82.

Dave Price Performance

The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 22.00 and a beta of 3.83. The company has a fifty day simple moving average of $375.71 and a two-hundred day simple moving average of $280.32. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22.

Dave (NASDAQ:DAVE) last posted its quarterly earnings data on Wednesday, August 5th. The fintech company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.44 by ($2.95). The business had revenue of $170.79 million for 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, research analysts anticipate that Dave Inc. will post 13.71 earnings per share for the current year.

Insider Transactions at Dave

In other Dave news, Director Dan Preston sold 275 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $247.65, for a total value of $68,103.75. Following the sale, the director directly owned 5,466 shares of the company’s stock, valued at approximately $1,353,654.90. This trade represents a 4.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.59% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in Dave by 33,721.3% in the second quarter. California State Teachers Retirement System now owns 4,446,489 shares of the fintech company’s stock valued at $1,656,717,000 after purchasing an additional 4,433,342 shares during the period. Ameriprise Financial Inc. raised its stake in Dave by 819.3% during the third quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company’s stock worth $41,666,000 after purchasing an additional 186,273 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Dave in the 4th quarter valued at $27,874,000. Wellington Management Group LLP boosted its holdings in shares of Dave by 200.7% in the 3rd quarter. Wellington Management Group LLP now owns 177,103 shares of the fintech company’s stock valued at $35,305,000 after purchasing an additional 118,203 shares during the last quarter. Finally, Estuary Capital Management LP acquired a new position in shares of Dave in the 1st quarter valued at $20,556,000. 18.01% of the stock is currently owned by hedge funds and other 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.