2024-05-12 20:37:26 ET
Summary
- Dave Inc. is a neobank that offers various tools for young and financially struggling people to improve their financial situation.
- After reaching a peak valuation of $4 billion, DAVE crashed along with industry peers. With a $600 million valuation, it has now demonstrated profitable growth.
- Net income has outpaced DAVE's strong revenue growth, showing the company's ability to manage costs and risks baked into this type of business.
- I believe that DAVE is fairly valued at $70, and it should get there if it hits the guidance provided in Q1 for the full year.
Dave Inc. ( DAVE ) is a fintech company that offers a suite of financial services across its various platforms. Its main services are ExtraCash, a short-term liquidity alternative that helps users avoid overdraft fees, and Dave Banking, a digital checking and demand deposit account. It also offers a job application portal called Side Hustle, a budgeting tool and get-paid-for-surveys platform....
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Dave: This Former Meme Stock Is Now Profitable And Cheap Until $70