Mobile banking app Dave hits over 3-year high after Benchmark lifts PT to Street high

Dave

30/06/2025 18:11

** Shares of digital banking service Dave DAVE.O jump as much as 12.3%, hitting highest since March 2022

** Benchmark lifts PT on DAVE to $320 from $229, the highest on Wall Street, according to data compiled by LSEG

** New PT represents 28.2% upside to stock's last close

** Brokerage raises estimate for FY26 revenue to $561.7 million from $542.5 million, given increased conviction regarding the sustainability and resilience of demand for DAVE's offerings

** DAVE has been able to keep customer acquisition costs very low while posting strong revenue growth - brokerage

** Benchmark reiterates "buy" rating on DAVE, adding the firm still continues to trail the valuations of its closest peers in the fintech lending space

** All eight brokerages, covering DAVE, rate stock "buy" or higher; with a median PT $201.50

** As of last close, DAVE up 187.2% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))