Dave initiated with an Outperform at William Blair

William Blair analyst Andrew Jeffrey initiated coverage of Dave (DAVE) with an Outperform rating and no price target The company is “disrupting” the traditional banking industry as it “reimagines the roles of financial intermediaries in short-term consumer credit,” the analyst tells investors in a research note. The firm says Dave delivers short-duration, high-velocity, low-balance unsecured loans to a 185M account total addressable market. It believes the company has a “significant” long-term monetization opportunity.