11:06 a.m. ET on Friday, December 26, 2025.
U.S. stocks are back from the Christmas break in what’s typically a low‑volume, holiday‑shortened stretch, and major indexes have been hovering near record territory as investors try to “stick the landing” into year‑end. Reuters reports the S&P 500 is roughly 1% away from 7,000, with markets focused on Fed timing for 2026 rate cuts and the risk that thin trading can amplify moves. 1
In that backdrop, Dave Inc. (Nasdaq: DAVE)—a fast‑moving fintech name that’s already had a dramatic year—has been on investors’ screens again today.
DAVE stock price today (live market session)
As of this writing, Dave Inc. stock is trading around $227.45, down about 0.5% on the day, with an intraday range roughly $223.00 to $231.79 and relatively modest volume so far.
Broader markets have been relatively steady in this post‑Christmas session, consistent with what the AP described as quiet trading with light volume expectations. 2
Is the stock market open right now? Yes—this is the regular Friday session. The NYSE’s core trading hours are 9:30 a.m. to 4:00 p.m. ET. 3
Why the market mood matters for DAVE stock right now
Dave is the kind of stock that can feel like it has its own weather system—but the broader climate still matters:
- Thin holiday liquidity can exaggerate price swings (up or down), and Reuters specifically flagged that year‑end repositioning plus light volumes can increase volatility. 1
- Rate expectations are a big deal for growth and fintech valuations. Reuters notes the Fed has already cut rates by 75 bps across its last three meetings of 2025, taking the benchmark to 3.50%–3.75%, and investors are intensely focused on the next phase of cuts. 1
- Market strategists quoted by Reuters emphasize that momentum has favored bulls into year‑end—Paul Nolte (Murphy & Sylvest Wealth Management) described “the path of least resistance” as higher absent an external shock, while Michael Reynolds (Glenmede) highlighted how Fed minutes may be “illuminating,” and Anthony Saglimbene (Ameriprise) pointed to rotation into areas with more moderate valuations. 1
For DAVE specifically, that combination—risk‑on sentiment + lower‑volume trading—can translate into sharper‑than‑usual moves around headlines, analyst notes, or positioning.
The latest Dave Inc news driving investor focus
1) Q3 2025 earnings: rapid growth, higher guidance, and profitability headlines
Dave’s most recent quarterly report (for Q3 2025, released Nov. 4, 2025) was packed with eye‑catching numbers:
- Revenue:$150.8 million, up 63% year over year
- Net income:$92.0 million
- Adjusted EBITDA:$58.7 million (up 137% YoY)
- Guidance raised: FY2025 revenue to $544–$547 million and adjusted EBITDA to $215–$218 million 4
Operationally, Dave reported 843,000 new members at a customer acquisition cost of $19, and Monthly Transacting Members (MTMs) up 17% to 2.77 million. The company also pointed to ExtraCash originations of $2.0 billion (up 49%) and a net monetization rate (net of losses) of 4.8%, described as an all‑time high. 4
CEO Jason Wilk emphasized platform scalability, ARPU expansion, and credit performance “within guardrails,” while noting that the rollout of CashAI v5.5 improved origination size and delinquency rates into September and early Q4. 4
2) CashAI v5.5: Dave’s underwriting engine gets an upgrade
On Sept. 10, 2025, Dave announced full implementation of CashAI v5.5, describing it as an upgrade that “nearly doubles” model inputs and is trained on more than 7 million matured ExtraCash originations.
Dave said early results showed more accurate risk ranking, higher average approvals, stronger conversion, and lower delinquency and loss rates versus Q2 performance, with a modest impact expected in Q3 and fuller benefits in Q4 and beyond. 5
Why that matters for investors: Dave’s ExtraCash economics depend heavily on underwriting precision—small changes in delinquency and loss behavior can move profitability.
3) Share repurchases: authorization expanded to $125 million
A major capital‑allocation signal arrived earlier in the year. On Aug. 13, 2025, Dave announced its board increased the share repurchase authorization to $125 million, replacing a prior $50 million program.
The company said it deployed about $25 million in repurchases since reporting Q2 earnings (Aug. 6), and more than $45 million year‑to‑date including RSU net settlements. COO/CFO Kyle Beilman framed the move as reflecting confidence in outlook, free cash flow, and long‑term priorities. 6
4) Leadership: new Chief Product Officer
Dave also announced on Oct. 29, 2025 it hired Parker Barrile as Chief Product Officer (effective Nov. 10), highlighting his background (Prosper, LinkedIn) and prior role as a partner at Norwest, where he led Dave’s Series B fundraising and served on the board. 7
Analyst forecasts and price targets for DAVE stock
Analyst outlook has been broadly constructive, but the exact “consensus” depends on the data provider (methodologies vary).
- TipRanks shows a Strong Buy consensus and an average 12‑month price target around $310.14, with targets ranging from $274 to $347. 8
- MarketBeat shows a Moderate Buy consensus with an average price target around $304.25 (also showing a $274 to $345 range). 9
- A fresh analyst note highlighted this week: Lake Street Capital Markets raised its price target to $308 from $263 and reiterated a Buy, citing improving credit performance and other operating factors. The same Investing.com report also noted Citizens raised a target from $300 to $310 with a Market Outperform rating. 10
One useful reality check: price targets are not promises, and small‑cap, high‑momentum fintech stocks can overshoot both bull and bear narratives—especially in thin trading windows like late December.
Short interest and positioning: how crowded is the trade?
MarketBeat’s latest snapshot (as of Dec. 15, 2025) puts Dave’s short interest at about 871,992 shares, roughly 9.03% of float, with a days‑to‑cover estimate around 2.8. 11
That’s not “meme‑stock extreme,” but it is enough that sharp upside moves (especially on a catalyst) can pressure shorts—while downside volatility can also accelerate if momentum fades.
Insider transactions: what the filings show
Investors watching governance and supply/demand dynamics should note that recent Form 4 filings show insider‑related selling activity.
For example, a Dec. 17, 2025 Form 4 filing for director Imran Khan reports multiple sales executed under a Rule 10b5‑1 plan (adopted March 14, 2025), at weighted‑average prices around the high‑$180s to ~$200 range, and notes this filing was the first of two due to transaction‑count limits. 12
Context matters here: 10b5‑1 plans are pre‑scheduled, so they don’t automatically signal changing conviction—but they do affect near‑term share supply and can influence sentiment in a stock with tight liquidity.
The regulatory overhang: FTC/DOJ case remains a headline risk
Dave has also faced regulatory scrutiny that investors continue to monitor:
- The FTC announced in late 2024 that it (and the DOJ) filed a complaint alleging Dave used misleading marketing and charged “hidden” fees, among other allegations. 13
- The FTC’s case page lists the matter as pending (last updated Dec. 30, 2024). 14
- Reuters reported around that time that Dave said it would defend itself and called the case an attempt to “weaponize” consumer protection laws. 15
Dave’s own filings describe major product changes that investors typically read in this context. In its 2024 Form 10‑K, Dave disclosed that it replaced the ExtraCash optional fee model with a simplified 5% overdraft service fee (with a $5 minimum and $15 maximum)—starting with new customers in Dec. 2024 and fully transitioned for existing customers by Feb. 19, 2025. 16
Also in that 10‑K, Dave said it recorded a $7 million litigation and settlement accrual for the matter, while warning that outcomes are uncertain and losses could exceed the accrual. 16
Bottom line: even as fundamentals and product metrics improve, legal/regulatory outcomes can still inject discontinuous risk into the stock.
What investors should watch in the next few trading sessions
With the market trying to finish 2025 strong—and DAVE sitting at the intersection of fintech growth, credit performance, and regulatory scrutiny—here are the practical variables that tend to matter most:
1) Holiday liquidity + closing dynamics
Late‑December sessions can produce “fake calm” intraday and then abrupt moves into the close. NYSE core hours run to 4:00 p.m. ET, and closing auctions can matter more when volumes are thin. 3
2) Credit performance signals
Dave’s own commentary has leaned heavily on delinquencies, loss rates, and net monetization as key drivers. The Q3 report specifically highlighted net monetization expansion and provided delinquency metrics. 4
3) Buyback cadence
Repurchases can provide a “bid” under the stock, but execution is discretionary and market‑condition dependent. The authorization is sizeable, but not a guarantee of steady daily support. 6
4) Macro catalysts (Fed minutes, rate expectations)
Reuters flagged Fed minutes due next week and described how rate‑cut expectations remain central to market pricing. Fintech multiples often move with that narrative. 1
5) Analyst note flow
Recent price‑target raises (e.g., Lake Street and Citizens) can keep momentum alive, particularly when combined with a strong earnings narrative. 10
If you’re reading this after the bell: what to know before the next session
Even though the market is open right now, many readers catch up after hours. Here’s the “before next session” checklist that matters most for DAVE stock in this particular late‑December tape:
- Know the official session: NYSE core trading is 9:30 a.m.–4:00 p.m. ET; pre‑open order activity starts earlier. 3
- Expect thinner liquidity than usual in the final week of December—Reuters and AP both emphasized light trading conditions post‑holiday. That can widen spreads and increase gap risk. 1
- Use limit orders if you trade—especially in volatile, lower‑float names—because “market” orders can fill at surprising prices when the order book is thin.
- Watch for filings and legal headlines: ongoing litigation/regulatory developments can move the stock quickly, independent of fundamentals. 13
- Keep an eye on positioning: short interest is meaningful (though not extreme), and abrupt moves can feed on themselves. 11
