Dave’s Strong Growth Potential and Strategic Execution Earns Buy Rating from Analyst

In a report released today, Gary Prestopino from Barrington maintained a Buy rating on Dave (DAVE – Research Report), with a price target of $240.00.

Gary Prestopino has given his Buy rating due to a combination of factors that highlight Dave’s strong growth potential and strategic execution. The company is effectively expanding its user base by acquiring new members and enhancing engagement through innovative products like ExtraCash and the Dave Card, which offer low-cost banking solutions to a demographic often underserved by traditional banks.
Furthermore, Dave’s scalable cost structure and significant investments in technology enable it to serve a large member base efficiently, suggesting potential for operating leverage and margin expansion. The company’s market opportunity is substantial, with a total addressable market of 180 million Americans, yet its current market penetration remains modest. Additionally, Dave’s consistent upward revision of revenue and adjusted EBITDA guidance, coupled with its competitive advantage in technology-driven credit decisioning, supports the positive outlook and the Buy rating.

In another report released on May 27, B.Riley Financial also maintained a Buy rating on the stock with a $239.00 price target.