Dave (NASDAQ:DAVE) Downgraded to Hold Rating by Wall Street Zen

Dave (NASDAQ:DAVE) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods increased their target price on Dave from $250.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday. Canaccord Genuity Group upped their price target on Dave from $274.00 to $328.00 and gave the company a “buy” rating in a research note on Tuesday. Lake Street Capital increased their price target on shares of Dave from $308.00 to $326.00 and gave the company a “buy” rating in a research report on Tuesday. B. Riley Financial lifted their price objective on shares of Dave from $297.00 to $303.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Barrington Research restated an “outperform” rating and set a $290.00 price objective on shares of Dave in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $312.13.

Dave Price Performance

Shares of NASDAQ DAVE opened at $217.33 on Friday. Dave has a fifty-two week low of $65.46 and a fifty-two week high of $286.45. The firm has a market capitalization of $2.93 billion, a P/E ratio of 16.10 and a beta of 3.86. The company’s 50 day simple moving average is $193.29 and its 200 day simple moving average is $206.82.

Dave announced that its Board of Directors has approved a share repurchase plan on Monday, March 2nd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the fintech company to repurchase up to 11.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Imran Khan sold 1,146 shares of Dave stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $204.00, for a total value of $233,784.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 97,771 shares of company stock valued at $19,194,391. Insiders own 28.48% of the company’s stock.

Hedge Funds Weigh In On Dave

Hedge funds and other institutional investors have recently made changes to their positions in the company. Comprehensive Financial Planning Inc. PA bought a new position in shares of Dave in the second quarter valued at about $359,000. Quadrature Capital Ltd boosted its holdings in shares of Dave by 120.3% during the 2nd quarter. Quadrature Capital Ltd now owns 9,751 shares of the fintech company’s stock worth $2,615,000 after buying an additional 5,325 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Dave by 22.7% during the 3rd quarter. Principal Financial Group Inc. now owns 67,792 shares of the fintech company’s stock worth $13,514,000 after buying an additional 12,555 shares during the period. Sigma Planning Corp acquired a new position in Dave in the 2nd quarter valued at about $425,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Dave by 81.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 19,375 shares of the fintech company’s stock valued at $3,862,000 after acquiring an additional 8,681 shares during the period. 18.01% of the stock is owned by institutional investors.

Dave News Summary

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Company priced a $175M 0% convertible senior notes offering and will use net proceeds to repurchase about 334,000 shares (~$70.5M) and to fund capped calls that limit dilution — this is supportive of near-term EPS/price support. Convertible Notes & Repurchase Release
• Positive Sentiment: Multiple brokerages raised price targets and issued upgrades in recent days (including Keefe, Lake Street, B. Riley, Canaccord), and third‑party coverage shows a consensus “Moderate Buy” — analysts expect upside versus current levels. Analyst Coverage Summary
• Positive Sentiment: Company reiterated/expanded share repurchase activity (public reports of a broader buyback program), signaling management intent to support the stock. Buyback Announcement
• Neutral Sentiment: Management entered capped call transactions that raise the effective conversion premium to 100% — these reduce dilution risk on conversion but include a high cap price (limits upside benefit to holders). Capped Call Details
• Negative Sentiment: The convertible notes increase the company’s debt obligations (0% coupons but senior unsecured debt) and create potential future dilution if conversion occurs; some investors view financing via convertibles and buybacks as a trade-off vs. investing in growth. Convertible Offering Analysis
• Negative Sentiment: Material insider selling has been reported (numerous open-market sales and no insider purchases in the period cited), which can worry investors about insiders’ sentiment on near-term upside. Insider Activity Details
• Neutral Sentiment: Short-interest reports in the feed show no meaningful, reliable short data (entries list zeros/NaN), so short-squeeze risk appears minimal based on available figures but treat these data as noisy.

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.