Dave price target raised to $103 from $63 at B. Riley

B. Riley raised the firm’s price target on Dave (DAVE) to $103 from $63 and keeps a Buy rating on the shares. The company reported a solid Q3 report that handily beat forecasts and a guidance raise for the remainder of 2024, the analyst tells investors in a research note. The firm says Dave also announced a new partner bank for originating its ExtraCash offering and other banking services, which will help diversify its supplier concentration. “Simply put, the company demonstrated a powerful combination of accelerating growth and margin expansion,” contends Riley.