JP Morgan Initiates Coverage of Dave at Overweight
Fintel reports that on September 15, 2026, JP Morgan initiated coverage of Dave (NASDAQGM:DAVE) with a Overweight recommendation.
On the day of the coverage initiation, September 15, 2026, the stock closed at $374.82, following a close of $365.78 on September 14, 2026. Over the preceding week, the stock experienced a price change of -0.41% from a baseline close of $376.38 on September 8, 2026. Over a one-month period, the stock's price changed by +12.03% from a baseline close of $334.57 on August 14, 2026.
This rating action is distinct from the aggregate consensus target and recommendation data. As of August 28, 2026, the current consensus target mean for Dave was $438.52, with a median of $458.49, representing an implied change of +16.99%. This is an increase from the prior consensus target mean of $399.10 recorded on August 4, 2026, representing a consensus target revision of +9.88%. In terms of analyst recommendations, as of September 1, 2026, the current recommendation total stood at 19, consisting of 4 strong buy, 12 buy, and 3 hold recommendations, which translates to 84.2% positive and 15.8% hold. This compares to the prior period as of August 1, 2026, which had a total of 18 recommendations, consisting of 4 strong buy, 11 buy, and 3 hold recommendations, representing 83.3% positive and 16.7% hold.
Other recent analyst actions include Loop Capital initiating coverage on September 9, 2026, with a Buy rating, and Piper Sandler initiating coverage on August 17, 2026, with an Overweight rating.
Dave reported its latest quarterly earnings on August 5, 2026. The company posted an actual EPS of 0.49 compared to an estimate of 3.7415, representing an EPS surprise of -86.90%. Actual revenue was $170,793,000.00, compared to an estimated $174,153,871.00. According to the company's Form EX-99.1 filing dated August 5, 2026, Dave reported that Q2 revenue grew 30% year-over-year to $170.8 million, driven by continued MTM growth and ARPU expansion. The filing also noted that the 28-DPD rate improved 14 basis points year-over-year to 2.12%, while ExtraCash originations grew 27% year-over-year to $2.3 billion. Net income of $6.7 million included $36.9 million of non-cash warrant and earnout remeasurement charges, and adjusted EBITDA increased 48% year-over-year to $75.5 million, representing a 44% margin.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| September 15, 2026 | JP Morgan | Overweight | initiated coverage | |
| September 9, 2026 | Loop Capital | Buy | initiated coverage | |
| August 17, 2026 | Piper Sandler | Overweight | initiated coverage |
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This story originally appeared on Fintel.