"Name" in Scripture is the main distinguishing spiritual characteristic of a person, his worldview and way of life, his mission, his purpose in life. (See "Name").
David is translated "beloved. David was "beloved" of God, that is, enlightened by the Spirit of the Revelations of His Will, proclaimed by his predecessors, the Prophets.
He accomplished the victory over the forces of evil that threatened faith in the One God, and thus became the "Beloved," the "Anointed One" of God for the mission of spiritual enlightenment of the people of Israel.
The name David is also translated as "Guide", because, knowing the Will of God, he became a spiritual "Guide", "King", i.e. the leader of "Israel" - the people fighting against paganism, leading this people along the path of righteousness to fulfill the Will of God, as well as pointing them to all their errors and vices.
In the image of David, Scripture reveals a prophet, a shepherd and spiritual warrior who conquered the power of pagan beliefs and traditions, the power of aggressive evil and lawlessness manifested among the people of Israel and the surrounding nations.
David's spiritualized, sublime prophetic poetry is the "key" of the revelation of the true understanding of God's Word and its prophecies that foreshadowed the appearance of the Messiah, Jesus Christ.
Jesus Christ is called the "Son of David," that is, his spiritual heir, who embodied in himself the true Faith that was characteristic of David's righteous lineage.