Benchmark Co. analyst Mark Palmer has reiterated their bullish stance on DAVE stock, giving a Buy rating yesterday.
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Mark Palmer’s rating is based on the reassurance from Dave Inc.’s management that the company’s margins will remain unaffected by JPMorgan Chase’s new pricing strategy for data aggregators like Plaid. This confirmation alleviates previous investor concerns about potential margin erosion due to increased costs from data access fees.
Additionally, Palmer highlights the strength of Dave’s business model and its competitive valuation compared to other fintech companies. The company’s ability to maintain pricing power and explore alternative data aggregators further supports the Buy rating, as these factors minimize the risk of margin impact from any potential changes in data access pricing.
In another report released yesterday, Lake Street also reiterated a Buy rating on the stock with a $263.00 price target.