Fintel reports that on August 12, 2024, Benchmark initiated coverage of Dave (NasdaqGM:DAVE) with a Buy recommendation.
Analyst Price Forecast Suggests 117.13% Upside
As of August 6, 2024, the average one-year price target for Dave is $66.46/share. The forecasts range from a low of $58.58 to a high of $78.75. The average price target represents an increase of 117.13% from its latest reported closing price of $30.61 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dave is 331MM, an increase of 13.12%. The projected annual non-GAAP EPS is -0.18.
What is the Fund Sentiment?
There are 80 funds or institutions reporting positions in Dave. This is an increase of 31 owner(s) or 63.27% in the last quarter. Average portfolio weight of all funds dedicated to DAVE is 0.37%, an increase of 9.72%. Total shares owned by institutions increased in the last three months by 92.66% to 3,421K shares. 
The put/call ratio of DAVE is 0.11, indicating a bullish outlook.
What are Other Shareholders Doing?
Divisadero Street Capital Management holds 617K shares representing 5.51% ownership of the company.
NVP Associates holds 583K shares representing 5.20% ownership of the company. No change in the last quarter.
Whetstone Capital Advisors holds 401K shares representing 3.58% ownership of the company. In its prior filing, the firm reported owning 501K shares , representing a decrease of 25.06%. The firm increased its portfolio allocation in DAVE by 208.27% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 214K shares representing 1.91% ownership of the company. In its prior filing, the firm reported owning 214K shares , representing an increase of 0.14%. The firm increased its portfolio allocation in DAVE by 304.40% over the last quarter.
DWAS - Invesco DWA SmallCap Momentum ETF holds 212K shares representing 1.89% ownership of the company.
Dave Background Information
(This description is provided by the company.)
Dave is a banking app on a mission to build products that level the financial playing field. Dave helps its more than 11 million customers budget, avoid overdraft fees, find work and build credit.
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This story originally appeared on Fintel.
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