Dave Inc. (DAVE) Exits Portfolio After 100% Rally as Valuation Becomes Too Expensive

Dave Inc. (DAVE) has been removed from Buckley Capital Advisors' portfolio after rallying over 100%, with the firm citing excessive valuation as the reason. The company, which provides financial services to small and mid-sized businesses, closed at $405.65 on July 27, 2026, up 84.19% year-to-date. Buckley Capital noted that while Dave's business model is consistent and predictable, the stock exhibits irrational price swings. The firm believes Dave will continue to perform well but requires strong execution to justify its high valuation. Buckley Capital initially acquired DAVE at $17/share, estimating an 11x earnings multiple, while market expectations were around $12. The company's $5.16 billion market cap and 52-week range of $152.21-$458.25 highlight its strong growth trajectory.

Buckley Capital's decision to exit DAVE reflects growing concerns about valuation risk in global markets, particularly amid rising inflation expectations and potential supply chain disruptions. The move also underscores the impact of geopolitical factors like Suez Canal congestion on financial services firms like Dave Inc.