Dave Inc (DAVE) PT Raised to $119 at Benchmark

Benchmark analyst Mark Palmer raised the price target on Dave Inc (NASDAQ: DAVE) to $119.00 (from $95.00) while maintaining a Buy rating.

The analyst commented: "As the upward surge in Dave Inc.’s (DAVE) stock price since the beginning of the year has qualified it as a “10-bagger” – its shares have increased in value by
1,009% year-to-date – it would simply make sense for investors to ask at this point whether they had missed the trade on the name. However, we believe DAVE represents a classic example of why stocks that have dramatically re-rated should be evaluated based not on the extent of their recent moves, but rather on the extent to which their growth prospects are reflected in their current valuations, especially when such prospects have improved significantly due to positive changes in the underlying companies’ business models or the environments in which they operate."

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