Lake Street Capital Markets raised its price target on Dave Inc. (NASDAQ: DAVE) to $308 from $263 while reiterating a Buy rating, citing improving fundamentals despite recent share price volatility.
The firm noted that post-earnings stock volatility mirrored reactions seen in prior quarters, even though the company delivered what it characterized as a strong quarter marked by improving credit performance. Lake Street viewed the pullback as an attractive entry point, supported by declining delinquencies, expansion in net monetization rates, and improving customer acquisition costs per monthly transacting member.
The analyst also highlighted the upcoming launch of Dave’s buy-now-pay-later card as a meaningful opportunity to expand into a market segment the company had not previously targeted. Lake Street said the broader consumer macro backdrop supported an expanding addressable market, making the stock attractive ahead of a seasonally stronger fourth quarter for discretionary spending.
From a valuation perspective, the firm said Dave’s shares were trading at roughly 13x 2026 EBITDA, which it viewed as inexpensive relative to other earned wage access and BNPL providers trading in a wide range between 10x and 40x, with a median near 24x. The higher price target reflected continued outperformance in key operating metrics and upward revisions to 2026 estimates.
