Dave Inc shares jump after quarterly report, outlook

Dave

07/05/2024 16:55

** Shares in Dave Inc  DAVE.O  up 14% on Tuesday, on track for
biggest one-day pct gain since April 23 after Q1 financial
report and financial outlook impressed investors
    ** DAVE, a digital-only bank, reported Q1 rev of $73.60 mln
was ahead of consensus estimate of $70.75 mln, according to LSEG
which lists just two analysts covering the company
    ** DAVE reported a GAAP profit of $34.2 mln vs a loss of $14
mln in year-ago quarter
    ** For FY 2024 it forecast revenue of $305 mln-$325 mln and
said it was raising its adjusted EBITA target to a range of $30
mln-$40 mln from $25 mln-$35 mln range 
    ** Stock last traded at $53.17 vs median price target of
$57.50. YTD DAVE shares up 527% YTD

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +13322191897;))