On August 6, Dave Inc fell 9.94% in regular trading, trading at $375.65/share, with turnover of $94.67 million. The decline follows the company's Q2 earnings release after market close on August 5, which beat Wall Street consensus but fell short of the highly elevated expectations already priced into the stock.

Dave reported Q2 adjusted EPS of $4.12, surpassing the analyst consensus estimate of $3.67 by 12.26%, and revenue of $170.8 million, roughly in line with the $171.1 million estimate. The company also raised its full-year guidance, now expecting revenue of $725-$735 million and adjusted EPS of $17.00-$17.50, above prior guidance of $710-$720 million in revenue and $16.25-$16.75 in adjusted EPS.

However, ahead of the earnings release, multiple investment banks had aggressively raised price targets — Barrington Research lifted its target from $310 to $420-$440, while UBS raised from $300 to $470 — pushing the stock to approximately $424 before the report. With optimistic expectations already fully embedded in the share price, the actual results triggered concentrated profit-taking despite the headline beat. On the same day, B. Riley raised its target to $449 from $370, maintaining a Buy rating.

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