Keefe Bruyette analyst Ryan Tomasello yesterday initiated coverage of Dave (DAVE) with an Outperform rating and $250 price target Dave operates a “highly profitable neobank” platform with 13.5M members that caters to underbanked, lower-income consumers, the analyst told investors in a research note. The firm believes the company’s core cash advance product, ExtraCash, has the ability to support 20% revenue growth over the medium term.
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