• Recently, digital banking platform Dave faced pressure after company insiders sold about US$91.3 million of stock over the past year and Weiss Ratings shifted its view from a buy to a hold rating.

• This combination of insider selling and a ratings downgrade has raised fresh questions about how aligned internal confidence is with the company’s longer-term ambitions.

• Next, we’ll examine how the insider selling and ratings downgrade may affect Dave’s investment narrative and future growth expectations.

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To own Dave, you need to believe its digital banking model can keep scaling revenue from subscriptions and ExtraCash while controlling credit risk and funding costs. The recent insider selling and Weiss Ratings downgrade weigh on sentiment but do not directly alter the near term catalyst around CashAI driven monetization or the key risk of tighter regulation on fee based, small dollar credit.

The most relevant recent update here is Dave’s Q3 2025 earnings release, which showed sharply higher revenue and net income alongside raised full year revenue guidance to US$544 million to US$547 million. Those results set a high bar for execution, and any change in user growth, ExtraCash performance or fee resilience would quickly test whether the current growth and margin profile is sustainable or if competitive and regulatory pressures start to bite.

Yet behind Dave’s strong recent results, there is still the underappreciated risk that heavier regulation of small dollar, short term credit could…

Read the full narrative on Dave (it’s free!)

Dave’s narrative projects $702.2 million revenue and $193.0 million earnings by 2028. This requires 17.5% yearly revenue growth and a $137.9 million earnings increase from $55.1 million today.

Uncover how Dave’s forecasts yield a $306.38 fair value, a 51% upside to its current price.

Four members of the Simply Wall St Community value Dave between US$177 and US$320 per share, with several estimates clustered toward the upper end. You are seeing that investors can differ widely, especially when growth catalysts like CashAI improvements sit alongside concerns about tighter oversight of fee based, short term credit products, so it is worth weighing multiple viewpoints before forming your own view.