Benchmark downgraded Dave Inc. from a strong-buy rating to hold on June 17, 2026. The investment research firm cited the stock trading near its 52-week high following a period of strong performance.
The rating change follows Dave reporting quarterly earnings that exceeded market expectations. The fintech company also authorized a $300 million share repurchase program earlier in June.
Mangrove Partners IM LLC recently established a new position in the company. Analysts attribute recent share price gains to the expanded buyback program and management's confidence in the financial model.