Dave (NASDAQ:DAVE) Stock, Quote.Headers.trade-ideas

Dave

Dave Inc is a financial services company. It is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit, and finding side gigs.

Russell,2000,Index.magnifying,Glass,Showing,The,Words.background,Of,Banknotes,And

Long Ideas

News

Small Cap Analysis

Small Cap

Trading Ideas

DAVE

INOD

SOUN

Small cap stocks in the Russell 2000 have seen big gains in 2024. Here are three underdogs that doubled investors&#39; wealth.

Small Caps Soar: 3 Russell 2000 Stocks Doubling Investor Wealth In 2024

Munich,,Bavaria,,Germany,-,March,31,2023:,Genedx,Holdings,Is

Analyst Color

Biotech

Upgrades

Health Care

Markets

Movers

CADL

CRBP

ELEV

JANX

ROOT

SEZL

GeneDx Holdings Corp. (NASDAQ: WGS) has soared 1,101% this year, attributed to its mix shift towards exome/genome testing and record high margins.

GeneDx Leads Russell 2000 This Year As It Shifts To More Comprehensive Genetic Testing (CORRECTED)

Dave Inc

Dave & Buster's Entertainment, Inc. - Common Stock

Dave & Buster's Entertainment Inc

WIIM

ADBE

AEYE

AILE

AIRE

AIXI

ASAN

BILL

CDNS

CRWD

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

HUBS

INTU

MNDY

PCOR

SLNH

SNPS

Shares of software companies are trading higher amid overall market strength following Wednesday's Fed rate cut.

Benchmark analyst Mark Palmer reiterates Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) with a Buy and maintains $53 price target.

Price Target

Reiteration

Analyst Ratings

Benchmark Reiterates Buy on Dave, Maintains $53 Price Target

Throughout the last three months, 7 analysts have evaluated Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>), offering a diverse set of opinions from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $60.57, a high estimate of $75.00, and a low estimate of $53.00. This current average represents a 4.76% decrease from the previous average price target of $63.60. 
<img src="https://www.benzinga.com/files/images/story/2024/1725976867_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of Dave among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mark Palmer</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$53.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Mark Palmer</td>
<td>Benchmark</td>
<td>Announces</td>
<td>Buy</td>
<td>$53.00</td>
<td>-</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Jacob Stephan</td>
<td>Lake Street</td>
<td>Announces</td>
<td>Buy</td>
<td>$53.00</td>
<td>-</td>
</tr>
<tr>
<td>Hal Goetsch</td>
<td>B. Riley Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$60.00</td>
<td>$60.00</td>
</tr>
<tr>
<td>Devin Ryan</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$75.00</td>
<td>$75.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Dave. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Dave compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Dave's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Dave's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/DAVE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Dave analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Get to Know Dave Better</h2>
Dave Inc is a financial services company. It is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit, and finding side gigs.
<h3>Unraveling the Financial Story of Dave</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Dave's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 30.84%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Dave's net margin excels beyond industry benchmarks, reaching 7.94%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 4.73%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Dave's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.63%, the company showcases efficient use of assets and strong financial health.
Debt Management: Dave's debt-to-equity ratio stands notably higher than the industry average, reaching 0.53. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Peeling Back The Layers: Exploring Dave Through Analyst Insights

In a year marked by market turbulence, small-cap stocks are grabbing headlines <a href="https://www.benzinga.com/trading-ideas/small-cap-analysis">for their remarkable performances</a>. 
As Benzinga looks forward to its <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/">SmallCAP Conference in October</a>, here are three thriving small caps that are a part of the Russell 2000 Index, offering fresh opportunities for savvy investors.
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40079676/exclusive-restaurants-are-to-soundhound-ai-what-books-were-to-amazon-ceo-tells-benzinga" target="_blank" rel="noreferrer noopener">EXCLUSIVE &#8211; &#8216;Restaurants Are To SoundHound AI What Books Were To Amazon,&#8217; CEO Tells Benzinga</a>
<ul>
<li>Dave Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) is cashing in on the fintech revolution with a staggering 320% gain year-to-date (YTD). The digital banking app, known for its overdraft protection and financial insights, boasts a user base of 11.3 million. Analysts predict substantial room for expansion, including financial services that cater to the financially vulnerable. Benchmark initiated <a href="https://in.investing.com/news/company-news/benchmark-sets-stock-target-on-dave-inc-cites-growth-potential-93CH-4380031">coverage</a> with a Buy rating and a $53 price target, highlighting Dave's potential for profitable growth. </li>
</ul>
<ul>
<li>SoundHound AI Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) is making waves with a 139% YTD surge. Specializing in conversational AI, SoundHound's voice tech is transforming how businesses interact with customers. The recent acquisition of <a href="https://www.investing.com/news/company-news/soundhound-ai-acquires-amelia-to-boost-conversational-ai-93CH-3562348">Amelia</a> expands its reach into new AI verticals. With an average <a href="https://www.benzinga.com/quote/SOUN/analyst-ratings">analyst price target</a> of $6.67 and a 35.36% upside potential, SoundHound is tapping into the future of AI-driven customer experiences, promising exciting developments ahead.</li>
</ul>
<ul>
<li>Innodata Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INOD#NASDAQ">INOD</a>) is proving that data still rules with a remarkable 119% YTD increase. The company's expansion in AI and data services is paying off, evidenced by its 41% revenue growth and a new $30 million credit facility. With a focus on AI large language models, Innodata is capitalizing on the growing demand for sophisticated data solutions. The firm's robust performance has attracted BWS Financial's <a href="https://www.investing.com/news/company-news/innodata-secures-expanded-30-million-credit-facility-93CH-3562987">Buy</a> rating and a $24 price target, underscoring its potential in the AI sector. </li>
</ul>
These small-cap stocks are showing that significant gains are not just a big-cap game. With impressive YTD returns, they offer a glimpse into the future of innovation and growth in the Russell 2000.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com//node/40423157">Small-Cap AI Stocks On The Rise &#8211; 3 Hidden Gems You Shouldn&#8217;t Miss</a></li>
</ul>
Don't miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/">Benzinga SmallCAP Conference on October 9-10, 2024</a>, at the Chicago Marriott Downtown Magnificent Mile. 
Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you're a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. 
<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/">Secure your spot and get your tickets today</a>!

ALAR

APPN

APPS

BNAI

CFLT

COMM

EPAM

ESTC

FLEX

GRYP

INSG

INTZ

IONQ

LPSN

LWLG

NICE

PLTR

PRCH

PSTG

RDZN

SMCI

SMRT

SNOW

SOTK

TIXT

TROO

VERI

VRAR

VRME

WDAY

WETH

ZBRA

ZEPP

Shares of companies within the broader technology sector are trading higher amid overall market strength following softer-than-expected PPI figures.

Throughout the last three months, 9 analysts have evaluated Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>), offering a diverse set of opinions from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Dave, revealing an average target of $61.11, a high estimate of $75.00, and a low estimate of $53.00. A decline of 7.41% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1723489213_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of Dave by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mark Palmer</td>
<td>Benchmark</td>
<td>Announces</td>
<td>Buy</td>
<td>$53.00</td>
<td>-</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Jacob Stephan</td>
<td>Lake Street</td>
<td>Announces</td>
<td>Buy</td>
<td>$53.00</td>
<td>-</td>
</tr>
<tr>
<td>Hal Goetsch</td>
<td>B. Riley Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$60.00</td>
<td>$60.00</td>
</tr>
<tr>
<td>Devin Ryan</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$75.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Jeff Cantwell</td>
<td>Seaport Global</td>
<td>Announces</td>
<td>Buy</td>
<td>$54.00</td>
<td>-</td>
</tr>
<tr>
<td>Hal Goetsch</td>
<td>B. Riley Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$60.00</td>
<td>-</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Dave. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Dave compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Dave's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Dave's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/DAVE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Dave analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Get to Know Dave Better</h2>
Dave Inc is a financial services company. It is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit, and finding side gigs.
<h3>Breaking Down Dave's Financial Performance</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Dave's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 30.84%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Dave's net margin excels beyond industry benchmarks, reaching 7.94%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 4.73%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Dave's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.63%, the company showcases efficient use of assets and strong financial health.
Debt Management: Dave's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.53.
<h2>The Significance of Analyst Ratings Explained</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Scoreboard: 9 Ratings For Dave

Benchmark analyst Mark Palmer initiates coverage on Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) with a Buy rating and announces Price Target of $53.

Initiation

Benchmark Initiates Coverage On Dave with Buy Rating, Announces Price Target of $53

Barrington Research analyst Gary Prestopino maintains Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) with a Outperform and maintains $65 price target.

Barrington Research Maintains Outperform on Dave, Maintains $65 Price Target

Dave shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY24 revenue guidance.

2024 Financial Guidance ($ in millions)
<figure class="table"> 
<table>
<tbody>
<tr>
<td>FY 2024</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>GAAP Operating Revenues, Net &nbsp;</td>
<td>$310 - $325(previously $305 - $325) &nbsp;</td>
</tr>
<tr>
<td>Year-Over-Year Growth</td>
<td>20% - 25%</td>
</tr>
<tr>
<td>Adjusted EBITDA&#x2A; &nbsp;</td>
<td>$40 - $50(previously $30 - $40) &nbsp;</td>
</tr>
<tr>
<td>Year-Over-Year Improvement</td>
<td>$50 - $60</td>
</tr>
</tbody>
</table>
</figure>
&#x2A;Non-GAAP measure. The Company does not provide a quantitative reconciliation of forward-looking non-GAAP financial measures because it is unable to predict without unreasonable effort the exact amount or timing of the reconciling items, including interest expense, investment income, and loss provision, among others. The variability of these items could have a significant impact on our future GAAP financial results.
Dave's CFO Kyle Beilman, commented: "We believe this quarter's performance is further validation of our strong and scalable business model. We are once again raising our Adjusted EBITDA guidance for the year to $40 - $50 million, reflecting our solid year-to-date results and positive outlook for the remainder of the year, and our expectation around loss provision in the back half of the year given quarter-end calendar dynamics in September and December. Credit performance remains strong thus far in the third quarter which we expect to continue for the balance of the year. Overall, with a solid balance sheet and continued focus on efficient growth, we are well-positioned to achieve our growth and profitability objectives."

Guidance

Dave Raises FY24 Revenue Guidance From $305M-$325M To $310M-$325M Vs $319.06M Est.

Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) reported quarterly earnings of $0.47 per share which beat the analyst consensus estimate of $(0.18) by 361.11 percent. This is a 124.74 percent increase over losses of $(1.90) per share from the same period last year. The company reported quarterly sales of $80.10 million which beat the analyst consensus estimate of $75.50 million by 6.09 percent. This is a 30.81 percent increase over sales of $61.23 million the same period last year.

Earnings

Earnings Beats

Dave Q2 Adj $0.47 Beats $(0.18) Estimate, Sales $80.10M Beat $75.50M Estimate

AKAM

ARLO

ASGN

AUUD

AXTI

BLZE

CHKP

DGLY

FFIV

GREE

GWRE

IDAI

INTA

IPGP

JAMF

LOGI

MITK

MOVE

MTLS

Nuveen California Dividend Advantage Municipal Fund 2

OBLG

OOMA

RGTI

SDIG

SGMA

SIMO

SPSC

SYNA

Shares of stocks in the broader tech sector are trading lower amid a sell off due to US economy concerns.

AAOI

AKTS

ALGM

ANET

BRZE

CLFD

CLSK

COHR

DOCN

IMMR

ITRI

KEYS

KVYO

LFUS

LITE

MMAT

NSIT

Next Technology Holding Inc. - Ordinary Shares

NXTT

PLUS

PLXS

RBRK

SANM

SMTK

SPEC

TRMB

WULF

Shares of companies in the broader technology sector are trading lower amid an overall market selloff following weak US jobs data. Weakness in Amazon and Intel has also weighed on the tech sector.

Editor's note: This story has been updated to reflect the proper spelling and city headquarters of GeneDx.
GeneDx Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGS#NASDAQ">WGS</a>) has made <a href="https://www.benzinga.com/news/24/04/38517054/why-genedx-shares-are-trading-higher-by-37-here-are-20-stocks-moving-premarket">the biggest gains</a> on the Russell 2000 Index in 2024 as the biotechnology company moves toward more <a href="https://www.benzinga.com/topic/gene-therapy">comprehensive genetic testing</a>.
The Stamford, Connecticut-based company&#8217;s shares have soared 1,101% so far this year as of midday Thursday, <a href="https://www.tradingview.com/symbols/TVC-RUT/components/">according </a>to Tradingview.
Goldman Sachs analyst Matthew Sykes attributes much of GeneDx&#8217;s positive momentum to shifting its testing. The company went from panel-based tests, which look for variants in more than one gene, to exome/genome testing, which analyzes the bulk of a person&#8217;s DNA to find genetic variations.
Also Read: <a href="https://www.benzinga.com/news/earnings/24/04/38505448/genedx-stock-climbs-after-better-than-expected-q1-results-raises-fy24-guidance">GeneDx Stock Climbs After Better-Than-Expected Q1 Results, Raises FY24 Guidance</a>
&#8220;We remain optimistic about WGS's continued focus on converting its mix shift of panel-based tests to whole exome/genome-based tests,&#8221; Sykes wrote in a note on Wednesday.
&#8220;As of 1Q24, 30% of their tests were exome/genome-based, whereas this metric was 16% in 1Q23.&#8221;
He said the transition has expanded the company&#8217;s margins from 33% in the first quarter of 2023 to 61% in this year&#8217;s first quarter.
&#8220;We see gross margins continuing to improve going forward, yet see more moderated growth in out years, reaching the mid-high 60% range exiting 2026,&#8221; he wrote.
&#8220;We see this mix shift evolution as the key driver of WGS's growth in the near term given their initial focus on rare disease/pediatrics.&#8221;
Goldman Sachs maintains revenue estimates for GeneDx at $243 million for 2024, $269 million for 2025 and $306 million for 2026. It expects the company to post losses per share of $1.07 for this year and $0.21 for next year and earnings per share of $0.35 for 2026.
It has given GeneDx a Neutral rating and has increased its price target on the stock from $12.50 to $28.
Analysts expect GeneDx to post a 30 cent loss per share when it reports second-quarter earnings on July 30, up from a 33 cent loss per share registered for the first quarter, <a href="https://pro.benzinga.com/dashboard">according</a> to Benzinga Pro.
GeneDx has distanced itself from stocks held by runner-up small-cap companies Massachusetts-based Corbus Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBP#NASDAQ">CRBP</a>) and Root, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROOT#NASDAQ">ROOT</a>).
Corbus has risen 834% since the beginning of 2024, while Root, an Ohio-based online car insurance company, has gained 670%.
Price Action: GeneDx has slipped 3.36% to $32.18 by Thursday&#8217;s midday trading, while Corbus has fallen 5.26% to $55.86 and Root has risen 1.49% to $80.59.
Other leading small-cap stocks on Russell 2000
Below are the remaining companies that round out the top-10 list of top performers in the Russell 2000.
<ul>
<li>Elevation Oncology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELEV#NASDAQ">ELEV</a>), up %411%. </li>
<li>Dave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>), up 403%.</li>
<li>Avidity Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNA#NASDAQ">RNA</a>), up 387%.</li>
<li>Sezzle Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEZL#NASDAQ">SEZL</a>), up 322%.</li>
<li>Candel Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CADL#NASDAQ">CADL</a>), up 321%.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>), up 303%.</li>
<li>Janux Therapeutices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JANX#NASDAQ">JANX</a>), up 302%.</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39797464/small-caps-are-having-a-moment-russell-2000-notches-best-5-day-rally-in-over-4-year">Small Cap Stocks Are Having A Moment: Russell 2000 Notches Best 5-Day Rally In Over 4 Years</a></li>
</ul>
Image: Shutterstock

Throughout the last three months, 10 analysts have evaluated Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>), offering a diverse set of opinions from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $62.2, a high estimate of $75.00, and a low estimate of $45.00. Surpassing the previous average price target of $60.00, the current average has increased by 3.67%.
<img src="https://www.benzinga.com/files/images/story/2024/1722024140_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The standing of Dave among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jacob Stephan</td>
<td>Lake Street</td>
<td>Announces</td>
<td>Buy</td>
<td>$53.00</td>
<td>-</td>
</tr>
<tr>
<td>Hal Goetsch</td>
<td>B. Riley Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$60.00</td>
<td>$60.00</td>
</tr>
<tr>
<td>Devin Ryan</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$75.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Jeff Cantwell</td>
<td>Seaport Global</td>
<td>Announces</td>
<td>Buy</td>
<td>$54.00</td>
<td>-</td>
</tr>
<tr>
<td>Hal Goetsch</td>
<td>B. Riley Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$60.00</td>
<td>-</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Raises</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Devin Ryan</td>
<td>JMP Securities</td>
<td>Raises</td>
<td>Market Outperform</td>
<td>$75.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$45.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Devin Ryan</td>
<td>JMP Securities</td>
<td>Announces</td>
<td>Market Outperform</td>
<td>$70.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Dave. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Dave compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Dave's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Dave's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/DAVE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Dave analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>All You Need to Know About Dave</h2>
Dave Inc is a financial services company. It is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit, and finding side gigs.
<h3>Dave: Financial Performance Dissected</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Dave displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 24.95%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Information Technology sector.
Net Margin: Dave's net margin excels beyond industry benchmarks, reaching 46.51%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Dave's ROE excels beyond industry benchmarks, reaching 31.95%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Dave's ROA excels beyond industry benchmarks, reaching 12.93%. This signifies efficient management of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.6, Dave adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: Simplified</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse Into The Expert Outlook On Dave Through 10 Analysts

Lake Street analyst Jacob Stephan initiates coverage on Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) with a Buy rating and announces Price Target of $53.

Lake Street Initiates Coverage On Dave with Buy Rating, Announces Price Target of $53

<a href="https://www.bleeckerstreetresearch.com/research/dave" title="https://www.bleeckerstreetresearch.com/research/dave">https://www.bleeckerstreetresearch.com/research/dave</a>

Short Sellers

Watching Dave; Bleeker Street Research Issues Report On Co Titled "Dave, Inc (DAVE): 100% Downside Possible As The Regulatory Heat Turns Up The Heat On This Lender"

Wall Street Breakfast: The Week Ahead

Benchmark Co. analyst Mark Palmer initiated coverage with a Buy rating on Dave (DAVE – Research Report) today and set a price target of $53.00. The...

Dave (DAVE) Initiated with a Buy at Benchmark Co.

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Dave (DAVE – Research Report) and Nutanix (NTNX – ...

Analysts Have Conflicting Sentiments on These Technology Companies: Dave (DAVE) and Nutanix (NTNX)

Dave: ~$30 Represents A More Sensible Terrain To Own This Fintech Disruptor

In a report released today, Mark Palmer from Benchmark Co. maintained a Buy rating on Dave (DAVE – Research Report), with a price target of $53.00....

Benchmark Co. Reaffirms Their Buy Rating on Dave (DAVE)

Small-cap stocks have climbed recently. Here are the ones most poised for further upside

Benchmark Co. analyst Mark Palmer maintained a Buy rating on Dave (DAVE – Research Report) today and set a price target of $53.00. The company's sh...

Dave (DAVE) Gets a Buy from Benchmark Co.

Small-caps get a lift after Fed's jumbo rate cut; see top 20 names per SA Quant ratings

Small-caps get a lift after Fed's jumbo rate cut; see top 20 names in SA Quant ratings

Small-caps get a lift after Fed's jumbo rate cut: See top 20 names in SA Quant ratings

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

Dave

Dave (DAVE) Forecast

Dave (NASDAQ:DAVE) Stock, Quote.Headers.trade-ideas