Fintech Dave eyes 7-day winning streak ahead of planned capital raise

Dave

04/03/2026 19:30

** Digital banking services firm Dave's DAVE.O shares up 1.1% at $211 in Weds afternoon trading and rising for seventh straight session as it
    looks to raise capital

    ** DAVE shares on longest winning streak since 12-session run last May, racking up ~27% gain along the way

    ** Stock rose ~5% on Tues after co late Mon posted Q4 beat and 2026 adj EPS forecast of $14-$15 topped consensus

    ** Subsequently,
    Los Angeles, California-based co unveiled proposed private offering of $150 mln 5-yr convertible bonds

** It intends to use net offering proceeds for general purposes, including share repurchases under its stock buyback program

** Also plans to use proceeds to fund capped calls, derivative transactions employed to help offset potential dilution, and repurchase its shares to facilitate hedging

** Co has ~$2.8 bln market cap

** Including move on the session, stock up roughly 135% over the past year

    ** All 10 analysts are bullish, including 2 "strong buy" ratings; median PT $310, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))