JPMorgan Chase & Co. Initiates Coverage on Dave (NASDAQ:DAVE)

Equities research analysts at JPMorgan Chase & Co. started coverage on shares of Dave (NASDAQ:DAVE) in a note issued to investors on Tuesday, Benzinga reports. The firm set an “overweight” rating and a $480.00 price target on the fintech company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 26.73% from the company’s previous close.

DAVE has been the topic of several other research reports. Keefe, Bruyette & Woods lifted their target price on Dave from $485.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Piper Sandler initiated coverage on shares of Dave in a research report on Monday, August 17th. They issued an “overweight” rating and a $390.00 price target for the company. Canaccord Genuity Group raised their price target on shares of Dave from $342.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Zacks Research downgraded shares of Dave from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Loop Capital initiated coverage on shares of Dave in a research note on Wednesday, September 9th. They issued a “buy” rating and a $500.00 price objective on the stock. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Dave has an average rating of “Moderate Buy” and an average target price of $433.25.

Dave Stock Up 3.5%

Shares of Dave stock traded up $12.96 during midday trading on Tuesday, hitting $378.75. The company’s stock had a trading volume of 204,845 shares, compared to its average volume of 543,133. Dave has a 1-year low of $152.21 and a 1-year high of $458.25. 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 firm has a market capitalization of $4.83 billion, a P/E ratio of 24.60 and a beta of 3.83. The stock has a 50-day simple moving average of $377.07 and a 200-day simple moving average of $293.96.

Dave (NASDAQ:DAVE) last posted 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 business 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, sell-side analysts expect that Dave will post 13.71 earnings per share for the current year.

Institutional Investors Weigh In On Dave

Large investors have recently bought and sold shares of the business. Allworth Financial LP raised its holdings in Dave by 25.4% during the second quarter. Allworth Financial LP now owns 143 shares of the fintech company’s stock valued at $53,000 after buying an additional 29 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Dave by 43.9% during the 2nd quarter. GAMMA Investing LLC now owns 223 shares of the fintech company’s stock worth $83,000 after acquiring an additional 68 shares in the last quarter. Harbour Investments Inc. bought a new stake in shares of Dave during the 4th quarter worth about $66,000. Integrated Wealth Concepts LLC bought a new stake in shares of Dave during the 2nd quarter worth about $137,000. Finally, Nykredit A S acquired a new position in shares of Dave during the 2nd quarter valued at about $193,000. 18.01% of the stock is currently owned by institutional investors.

About Dave

Dave Inc is a financial technology company that operates a digital banking platform designed to help consumers manage everyday finances. Through its mobile application, the company provides tools intended to support budgeting, spending, saving and access to short-term funds.

Dave’s products include Dave Spending, a spending account and debit card offering, as well as budgeting and automatic savings features. Its ExtraCash product provides eligible users with access to advances intended to help manage short-term cash needs.