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Investing.com - Benchmark has reiterated its Buy rating and $320.00 price target on Dave Inc (NASDAQ:DAVE) following confirmation that the company’s margins would not be affected by JPMorgan Chase’s new data aggregator charging policy. The company has shown remarkable performance, with a 461% return over the past year and strong analyst support, according to InvestingPro data.
Dave management confirmed Tuesday that the company’s margins would remain unimpacted by JPMorgan Chase’s decision to begin charging data aggregators like Plaid, which Dave uses to connect to customers’ bank accounts and access real-time cashflow information.
JPMorgan Chase and Plaid announced a renewed data access agreement Monday after market close that included a pricing structure, though specific details were not disclosed.
Plaid stated 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.
Dave uses Plaid’s services to securely connect to customers’ bank accounts and access real-time cashflow information that informs its AI-driven credit decisioning engine for ExtraCash advances.
In other recent news, Dave Inc. reported impressive second-quarter earnings, exceeding analyst expectations with adjusted earnings of $3.14 per share, against the projected $1.49. The company’s revenue surged 64% year-over-year to $131.7 million, significantly surpassing the consensus estimate of $112.83 million. Following these results, Dave Inc. raised its full-year 2025 revenue guidance to $505-515 million, above the previous forecast of $460-475 million. JMP Securities responded to the strong earnings by raising its price target for Dave Inc. from $260 to $280 while maintaining a Market Outperform rating. Additionally, Benchmark reiterated its Buy rating on Dave Inc. with a price target of $320 after an investor meeting with the company’s CEO and CFO. In another strategic move, Dave Inc. announced an increase in its share repurchase authorization to $125 million, replacing the prior $50 million authorization. The company has already invested more than $45 million in share repurchases and RSU net settlements this year. Furthermore, Dave Inc. has rolled out CashAI v5.5, an upgraded version of its cash flow underwriting engine, which has been trained on over 7 million recent ExtraCash originations.
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