On August 6, Dave Inc fell 12.12% in pre-market trading, trading at $378.01 per share, with turnover of $276,300.

The decline follows the company's Q2 earnings release after market close the prior day. Dave reported adjusted EPS of $4.12, beating the analyst consensus of $3.67 by 12.26%, while revenue of $170.8 million came roughly in line with the $171.1 million estimate. The company also raised full-year guidance, now expecting revenue of $725-735 million and adjusted EPS of $17.00-17.50, up from prior guidance of $710-720 million in revenue and $16.25-16.75 in adjusted EPS.

However, ahead of the report, multiple investment banks had significantly raised price targets — Barrington Research lifted its target to $420-440 from $310, while UBS raised to $470 from $300 — driving shares to approximately $424 before the release. The stock's pre-earnings rally had fully priced in highly optimistic expectations, and while actual results exceeded consensus, they failed to justify the elevated valuation, triggering concentrated profit-taking among investors.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)