Dave Inc. (NASDAQ:DAVE – Get Free Report)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $365.78, but opened at $377.48. Dave shares last traded at $379.7930, with a volume of 44,533 shares changing hands.
Analyst Upgrades and Downgrades
DAVE has been the subject of several research analyst reports. Loop Capital started coverage on shares of Dave in a research report on Wednesday, September 9th. They set a “buy” rating and a $500.00 price target for the company. UBS Group lifted their price target on shares of Dave from $300.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Freedom Capital raised shares of Dave to a “hold” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. started coverage on Dave in a report on Tuesday. They set an “overweight” rating and a $480.00 price objective for the company. Finally, Citizens Jmp increased their target price on Dave from $450.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Dave currently has an average rating of “Moderate Buy” and an average target price of $433.25.
Read Our Latest Stock Report on DAVE
Dave Stock Up 3.5%
Dave (NASDAQ:DAVE – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The fintech company reported $0.49 EPS for the quarter, missing the consensus estimate of $3.44 by ($2.95). The business had revenue of $170.79 million during the quarter, compared to analysts’ expectations 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. Research analysts expect that Dave Inc. will post 13.71 EPS for the current year.
Hedge Funds Weigh In On Dave
A number of hedge funds have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky boosted its position in Dave by 92.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 8,273 shares of the fintech company’s stock worth $1,440,000 after purchasing an additional 3,971 shares during the period. California State Teachers Retirement System increased its holdings in Dave by 33,721.3% in the 2nd 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 in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Dave in the first quarter valued at about $1,835,000. Estuary Capital Management LP purchased a new position in Dave in the first quarter valued at about $20,556,000. Finally, Inspire Investing LLC acquired a new position in shares of Dave during the first quarter worth about $1,371,000. Hedge funds and other institutional investors own 18.01% of the company’s stock.
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.
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