Keefe Bruyette lowers Dave stock price target to $380 on valuation
Dave Inc (NASDAQ:DAVE) saw its stock price target lowered by Keefe, Bruyette & Woods to $380 from $435. Despite the valuation decrease, the firm maintains an Outperform rating for the company. The adjustment comes after Dave's strong third-quarter results and increased guidance. The firm's 2027 and 2028 earnings estimates remain largely unchanged, reflecting a conservative approach expected from management.
The stock is currently trading at 11 times its 2027 estimated earnings per share and 9 times its 2028 estimate, indicating a more conservative valuation multiple. Dave Inc's stock has declined 13% over the past week, making it an attractive entry point for potential investors.
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