Shares of Dave Inc (DAVE) are soaring 5% in intraday trading, as several Wall Street analysts have significantly raised their price targets for the company. The surge in analyst optimism appears to be driving investor confidence and pushing the stock higher.
Canaccord Genuity led the way by raising its target price for Dave Inc to $179 from $130, while Benchmark increased its target to $202 from $145. B. Riley also joined the bullish chorus, adjusting its price target to $206 from $142 and maintaining a Buy rating. Other firms, including JMP Securities and Lake Street, have maintained their positive stances on the stock with Market Outperform and Buy ratings, respectively.
According to analysts polled by FactSet, Dave Inc currently has an average rating of Buy and a mean price target of $128.14. The latest round of analyst upgrades suggests growing confidence in the company's prospects, which is likely contributing to the stock's impressive 5% gain today. Investors seem to be responding positively to the wave of optimistic projections from Wall Street, driving demand for Dave Inc shares.
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