Dave price target raised to $229 from $202 at Benchmark

Benchmark analyst Mark Palmer raised the firm’s price target on Dave (DAVE) to $229 from $202 and keeps a Buy rating on the shares after Dave’s Q1 report exceeded Street expectations on both the top and bottom lines, enabled by the continued improvement of the company’s various operating metrics. During a Benchmark-hosted investor meeting with CEO Jason Wilk and CFO Kyle Beilman last week, the executives pointed to a couple of elements of the business model as being “especially supportive of sustained outperformance” and the discussion helped to highlight the several structural aspects of its platform that have contributed to its breakout results, the analyst tells investors.

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