Want to see DAVE full AI Analyst Report?
Top Page
Dave
(NASDAQ:DAVE)
Select Model
Select Model
Rating:79Outperform
Price Target:
$493.00
▲(22.39% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial performance—especially high profitability and standout free-cash-flow generation—supported by a bullish technical trend (price above key moving averages with positive momentum). The raised full-year guidance and strong operating momentum on the earnings call further support the outlook, while the main constraints are the recent step-up in leverage and notable risk items cited on the call (credit provisioning, GAAP volatility, and the unresolved DOJ matter), plus only moderate valuation support at a ~22x P/E with no dividend.
Positive Factors
Cash generation
Dave’s free cash flow generation is unusually strong and roughly equals net income on a TTM basis, creating durable internal funding for product investment, buybacks, or debt reduction. High cash conversion supports resilience through cycles and funds strategic initiatives without relying solely on external capital.
Negative Factors
Rising leverage
The recent step‑up in debt and leverage reduces financial flexibility and increases vulnerability to funding cost shocks or weaker periods in receivables. Higher leverage constrains optionality for opportunistic investment or aggressive buybacks and raises the importance of sustaining cash generation and credit performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Dave’s free cash flow generation is unusually strong and roughly equals net income on a TTM basis, creating durable internal funding for product investment, buybacks, or debt reduction. High cash conversion supports resilience through cycles and funds strategic initiatives without relying solely on external capital.
Read all positive factors
Dave Key Performance Indicators (KPIs)
Dave (DAVE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.74B
Dividend YieldN/A
Average Volume (3M)562.28K
Price to Earnings (P/E)22.3
Beta (1Y)2.32
Revenue Growth58.48%
EPS Growth311.59%
CountryUS
Employees280
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)16.56
Shares Outstanding11,400,165
10 Day Avg. Volume474,597
30 Day Avg. Volume562,281
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)8.39
Price to Sales (P/S)5.34
P/FCF Ratio10.22
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$430.80Price Target Upside6.95% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)15.96
Revenue Forecast (FY)$714.92M
Dave Business Overview & Revenue Model
Company Description
Dave Inc. manages a digital platform that delivers a comprehensive array of financial products and services. Among its key offerings is "Insights," a personal finance management solution designed to help members monitor their earnings and expendit...
How the Company Makes Money
Dave primarily generates revenue from a combination of service fees tied to its ExtraCash product and interchange-based economics associated with its spending products, with additional contributions from ancillary fees and partner-driven revenue w...
Dave Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum: double-digit top-line growth, outsized adjusted EBITDA expansion, record member additions, improved ARPU and successful capital-efficiency actions (Coastal funding). Management raised full-year guidance and signaled continued investment in marketing, product (Cash AI V6) and a promising Flex card test. Near-term headwinds include noncash GAAP volatility from warrants, higher provisions driven by portfolio growth and seasonality, increased marketing and stock-based compensation, and the unresolved DOJ matter. Key strategic risks (Flex scale, full V6 seasoning and Coastal migration) remain but are being actively managed.Positive Updates
Strong Revenue Growth
Total revenue grew 30% year-over-year to $171 million in Q2 2026 and nearly 8% sequentially; company reported its ninth consecutive quarter of 30%+ revenue growth.
Negative Updates
GAAP Net Income Impacted by Noncash Charges
GAAP net income was $7 million vs. $9 million year-ago, impacted by $37 million of noncash mark-to-market charges related to warrant and earn-out liabilities as share price appreciated; volatility expected until those securities expire in January 2027.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenue grew 30% year-over-year to $171 million in Q2 2026 and nearly 8% sequentially; company reported its ninth consecutive quarter of 30%+ revenue growth.
Read all positive updates
Company Guidance
Dave raised 2026 guidance across the board, now targeting revenue of $725–$735 million (about 32% year‑over‑year growth at the midpoint, up from a prior $710–$720M range), adjusted EBITDA of $315–$325 million (up from $305–$315M) and adjusted diluted EPS of $17.00–$17.50 (up from $16.25–$16.75), assuming a 23% effective tax rate; management expects non‑GAAP gross margin to expand into the mid‑70s (inclusive of Coastal fees), plans higher advertising & activation investment in H2, does not assume meaningful revenue from Dave Flex in 2026, and cited Cash AI V6 plus higher ExtraCash limits and ARPU tailwinds as drivers supporting the outlook and similar Q3 loss‑rate expectations to Q2.Dave Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
58
Neutral
Cash Flow
90
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 643.65M | 554.18M | 347.08M | 259.09M | 204.84M | 153.01M |
| Gross Profit | 536.13M | 480.40M | 281.98M | 197.70M | 172.89M | 129.55M |
| EBITDA | 294.82M | 182.20M | 76.02M | -31.08M | -112.64M | -14.30M |
| Net Income | 222.64M | 195.87M | 57.87M | -48.52M | -128.91M | -19.99M |
Balance Sheet | ||||||
| Total Assets | 570.78M | 487.42M | 299.33M | 294.02M | 321.49M | 147.19M |
| Cash, Cash Equivalents and Short-Term Investments | 252.59M | 121.31M | 90.29M | 155.94M | 191.96M | 40.23M |
| Total Debt | 268.47M | 75.20M | 75.55M | 181.29M | 178.15M | 73.64M |
| Total Liabilities | 362.89M | 134.69M | 116.23M | 206.96M | 214.93M | 108.45M |
| Stockholders Equity | 207.89M | 352.73M | 183.10M | 87.06M | 106.56M | 38.74M |
Cash Flow | ||||||
| Free Cash Flow | 408.55M | 289.71M | 124.88M | 25.17M | -54.20M | -7.02M |
| Operating Cash Flow | 408.97M | 290.02M | 125.14M | 33.75M | -44.88M | -541.00K |
| Investing Cash Flow | -113.76M | -202.75M | -45.84M | -14.38M | -285.58M | -37.20M |
| Financing Cash Flow | -94.48M | -56.29M | -71.00M | 22.00K | 321.77M | 65.05M |
Dave Technical Analysis
Neutral
402.81
Price Trends
352.29
Positive
289.86
Positive
247.87
Positive
Market Momentum
10.14
Positive
43.97
Neutral
64.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DAVE, the sentiment is Neutral. The current price of 402.81 is below the 20-day moving average (MA) of 410.30, above the 50-day MA of 352.29, and above the 200-day MA of 247.87, indicating a neutral trend. The MACD of 10.14 indicates Positive momentum. The RSI at 43.97 is Neutral, neither overbought nor oversold. The STOCH value of 64.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DAVE.
Dave Risk Analysis
Dave disclosed 82 risk factors in its most recent earnings report. Dave reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Dave Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $3.26B | 17.72 | 19.50% | ― | 15.92% | ― | |
79 Outperform | $4.74B | 22.30 | 84.35% | ― | 58.48% | 311.59% | |
72 Outperform | $3.08B | 34.34 | 123.31% | ― | 31.02% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $4.93B | 59.90 | 5.79% | ― | 20.67% | ― | |
58 Neutral | $1.92B | -12.05 | -92.84% | ― | 9.47% | 31.43% | |
48 Neutral | $2.55B | -13.51 | -38.36% | ― | 0.90% | 71.02% |
* Technology Sector Average
DAVE
Dave
365.26
182.24
99.57%
ASAN
Asana
8.68
-4.86
-35.89%
GBTG
Global Business Travel Group
9.43
1.92
25.57%
GRND
Grindr
17.15
1.46
9.31%
RUM
Rumble
6.20
-1.68
-21.32%
FRSH
Freshworks
11.59
-1.04
-8.23%
Dave Corporate Events
Executive/Board ChangesShareholder Meetings
Dave Stockholders Back Governance, Executive Pay and Auditor
Positive
Jun 2, 2026
At its June 2, 2026 annual meeting, Dave Inc. stockholders elected Dan Preston as a Class II director to serve until the 2029 annual meeting, with more than 91% of eligible voting power represented, confirming strong shareholder engagement in the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.