Dave Inc (DAVE) Says Won't Be Impacted by JPM Decision to Charge Aggregators, Benchmark Reiterates 'Buy' on Stock

Benchmark analyst Mark Palmer reiterated a Buy rating and $320.00 price target on Dave Inc (NASDAQ: DAVE).

The analyst commented, "Dave Inc. (DAVE) management this morning [Tue] confirmed what they had been stating during the past couple of months: that the company’s margins would not be impacted by JPMorgan Chase’s (JPM; Not Rated) decision to begin charging data aggregators such as Plaid (Private), which DAVE uses to securely connect to customers’ bank accounts and access real-time cashflow information that it uses to inform its AI-driven credit decisioning engine for ExtraCash advances. JPM and Plaid yesterday after the market close announced a renewed data access agreement that included a pricing structure. Plaid, which did not disclose specifics on that structure, said there would be no changes to its current contracts or pricing due to the agreement, adding that its customers would not face additional costs or fees."

For an analyst ratings summary and ratings history on Dave Inc click here. For more ratings news on Dave Inc click here.

Shares of Dave Inc closed at $214.24 yesterday.

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