에 대한 최신 뉴스 Dave (NASDAQ:DAVE) 주식

Dave

Dave Inc is a financial services company. It is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit, and finding side gigs.

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INOD

SOUN

시장의 변동성이 두드러지게 나타난 올해, 중소형주가 놀라운 성과를 내고 있다는 사실이 많은 주목을 받고 있다. 벤징가(Benzinga)가 10월에 개최할 SmallCAP 컨퍼런스에 대한 기대감이 커지는 가운데, 러셀 2000 지수에 포함된 세 가지 성공적인 소형주를 현명한 투자자들에게 소개하고자 한다.

소형주 급등: 2024년에 투자자의 재산을 두 배로 불리는 러셀 2000 지수의 3주식

Dave Inc

Dave & Buster's Entertainment, Inc. - Common Stock

Dave & Buster's Entertainment Inc

JMP Securities analyst Devin Ryan maintains Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) with a Market Outperform and raises the price target from $75 to $115.

Price Target

Analyst Ratings

JMP Securities Maintains Market Outperform on Dave, Raises Price Target to $115

B. Riley Securities analyst Hal Goetsch maintains Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) with a Buy and raises the price target from $63 to $103.

B. Riley Securities Maintains Buy on Dave, Raises Price Target to $103

U.S. stocks were mixed, with the Nasdaq Composite falling around 50 points on Wednesday.
Shares of Paymentus Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAY#NYSE">PAY</a>) rose sharply in today's session after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance <a href="https://www.benzinga.com/quote/PAY/earnings">above estimates</a>.
Also, Baird maintained an Outperform rating on the stock and raised its price target from $25 to $36.
Paymentus Holdings shares jumped 23.8% to $32.97 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) shares surged 56% to $10.36. Jet.AI's board approved $2 million share repurchase program through 2025 and announced withdrawal of S-1 registration.</li>
<li>Dave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) shares jumped 46.8% to $92.19 after the company reported better-than-expected third-quarter adjusted EPS results and raised its FY24 sales guidance.</li>
<li>Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) gained 36% to $19.93 after the company reported better-than-expected quarterly financial results. The company also announced a multi-launch agreement with a confidential commercial satellite constellation operator and was awarded a federal defense contract worth up to $8 million.</li>
<li>Paragon 28, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNA#NYSE">FNA</a>) rose 34.8% to $10.20 following third-quarter results.</li>
<li>The Honest Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HNST#NASDAQ">HNST</a>) gained 28.3% to $6.16 after the company reported better-than-expected quarterly sales results.</li>
<li>Organogenesis Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORGO#NASDAQ">ORGO</a>) gained 27.5% to $4.4000 following third-quarter results.</li>
<li>Altus Power, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMPS#NYSE">AMPS</a>) gained 21.5% to $3.7788 after the company reported better-than-expected quarterly EPS and sales.</li>
<li>Natera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NASDAQ">NTRA</a>) gained 20% to $162.15 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) gained 15.3% to $12.19 after the company announced a joint venture launch with Volkswagen for a total deal size worth up to $5.8 billion.</li>
<li>JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) rose 15.3% to $7.28.</li>
<li>Tower Semiconductor Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSEM#NASDAQ">TSEM</a>) gained 11.8% to $48.22 after the company reported better-than-expected quarterly financial results.</li>
<li>James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) rose 9.9% to $34.93.</li>
<li>CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) gained 9.1% to $158.26 after the company reported better-than-expected third-quarter financial results and raised its FY24 net new restaurant openings outlook and same sales growth.</li>
<li>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) rose 7.1% to $110.09.</li>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) gained 6.9% to $448.39 following third-quarter earnings.</li>
</ul>
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Intraday Update

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ORGO

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Paymentus Posts Better-Than-Expected Earnings, Joins Dave, Honest Company, Natera, CAVA Group And Other Big Stocks Moving Higher On Wednesday

WIIM

Dave shares are trading higher after the company reported better-than-expected Q3 adjusted EPS results and raised its FY24 sales guidance.

Shares of Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) rose sharply in today's pre-market trading after the company reported better-than-expected <a href="https://www.benzinga.com/general/space/24/11/41922070/rocket-lab-q3-earnings-revenue-beat-eps-beat-continued-strong-demand-growth-multi-launch-agreement-air-force-award-and-more">third-quarter financial results</a>.
The company also announced a multi-launch agreement with a confidential commercial satellite constellation operator and was awarded a federal defense contract worth up to $8 million.
Rocket Lab USA shares jumped 28.7% to $18.86 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Microvast Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVST#NASDAQ">MVST</a>) gained 79.5% to $0.3244 in pre-market trading after the company reported better-than-expected third-quarter financial results.</li>
<li>Cyclacel Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYCC#NASDAQ">CYCC</a>) gained 62.6% to $0.6682 in pre-market trading after the company reported better-than-expected quarterly financial results.</li>
<li>Nature&#8217;s Miracle Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMHI#NASDAQ">NMHI</a>) rose 56% to $0.1337 in pre-market trading. Nature&#8217;s Miracle announced the closing of $3.0 million public offering.</li>
<li>Dave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) gained 37.3% to $86.21 in pre-market trading after the company reported a profit for the third quarter.</li>
<li>Paymentus Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAY#NYSE">PAY</a>) climbed 27.8% to $34.02 in pre-market trading following strong earnings and guidance.</li>
<li>Kairos Pharma, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KAPA#NYSE">KAPA</a>) gained 26.1% to $2.59 in pre-market trading after jumping 51% on Tuesday.</li>
<li>Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) gained 20.1% to $3.58 in pre-market trading. Mullen Automotive shares jumped 74% on Tuesday after the company announced its Class 1 EV cargo van is listed for vehicle rental on Turo.</li>
<li>WM Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAPS#NASDAQ">MAPS</a>) rose 19.9% to $0.8585 in pre-market trading after the company reported better-than-expected third-quarter revenue results and issued fourth-quarter revenue guidance above estimates.</li>
<li>Hallador Energy Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HNRG#NASDAQ">HNRG</a>) gained 14.2% to $11.93 in pre-market trading following third-quarter earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Syros Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYRS#NASDAQ">SYRS</a>) shares tumbled 81% to $0.5199 in pre-market trading after the company announced its SELECT-MDS-1 Phase 3 trial of tamibarotene did not meet its primary endpoint and has discontinued the study.</li>
<li>Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) shares fell 62.4% to $1.21 in pre-market trading after the company failed to file its earnings for the quarter ended September 2024. The discount airline in a filing late Tuesday, said that it is in talks with its creditors to carve out a restructuring plan which could lead to the cancellation of its equity shares.</li>
<li>Sidus Space, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIDU#NASDAQ">SIDU</a>) declined 44.8% to $1.24 in pre-market trading after the company priced its $7 million public offering of 5.6 million common shares at $1.25 each.</li>
<li>1847 Holdings LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFSH#NYSE">EFSH</a>) shares fell 43% to $0.6100 in pre-market trading after dipping 46% on Tuesday.</li>
<li>Vroom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRM#NASDAQ">VRM</a>) fell 32.8% to $5.96 in pre-market trading following third-quarter results.</li>
<li>Nano Labs Ltd  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NA#NASDAQ">NA</a>) dipped 23.3% to $5.90 in pre-market trading after jumping 134% on Tuesday. The company recently said it will start accepting payments in Bitcoin.</li>
<li>i-80 Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUX#NYSE">IAUX</a>) fell 21.3% to $0.7150 in pre-market trading after posting third-quarter results.</li>
<li>Groupon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRPN#NASDAQ">GRPN</a>) shares dipped 21.4% to $8.90 in pre-market trading after reporting third-quarter results.</li>
<li>Next Technology Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) fell 21.2% to $1.60 in today's pre-market trading after jumping over 76% on Tuesday.</li>
<li>ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) fell 13.8% to $11.28 in pre-market trading following third-quarter results.</li>
</ul>
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</ul>

Pre-Market Outlook

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Next Technology Holding Inc. - Ordinary Shares

NXTT

SAVE

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Why Rocket Lab Shares Are Trading Higher By Around 29%; Here Are 20 Stocks Moving Premarket

Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) reported quarterly earnings of $1.51 per share which beat the analyst consensus estimate of $(0.11) by 1472.73 percent. The company reported quarterly sales of $73.200 million which missed the analyst consensus estimate of $80.700 million by 9.29 percent. This is a 11.23 percent increase over sales of $65.811 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Dave Q3 2024 Adj. EPS $1.51 Beats $(0.11) Estimate, Sales $73.200M Miss $80.700M Estimate

Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) raises FY2024 sales outlook from $310.00 million-$325.00 million to $340.00 million-$343.00 million.

Guidance

Dave Raises FY2024 Sales Guidance from $310.00M-$325.00M to $340.00M-$343.00M

Dave Inc. Signs LOI For Strategic Partnership With Leading Sponsor Bank To Enhance ExtraCash Product, Hold Member Deposits, And Expand Banking Services

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Avadel Pharmaceuticals plc - American Depositary Shares each representing one Ordinary Share

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The Beachbody Company, Inc. Class A Common Stock

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Earnings Scheduled For November 12, 2024

5 analysts have expressed a variety of opinions on Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $62.2, along with a high estimate of $75.00 and a low estimate of $53.00. The average price target has stayed the same, reflecting a consistent view from analysts. 
<img src="https://www.benzinga.com/files/images/story/2024/1731358873_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A comprehensive examination of how financial experts perceive Dave is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Devin Ryan</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$75.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Mark Palmer</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$53.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Mark Palmer</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$53.00</td>
<td>$53.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Dave. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Dave compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Dave's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Dave's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/DAVE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Dave analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>About Dave</h2>
Dave Inc is a financial services company. It is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit, and finding side gigs.
<h3>A Deep Dive into Dave's Financials</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Dave's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 30.84%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Financials sector.
Net Margin: Dave's net margin excels beyond industry benchmarks, reaching 7.94%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Dave's ROE stands out, surpassing industry averages. With an impressive ROE of 4.73%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Dave's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.63% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Dave's debt-to-equity ratio is below the industry average. With a ratio of 0.53, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Analyst Ratings: What Are They?</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying Dave: Insights From 5 Analyst Reviews

Dave shares are trading higher. Barrington Research maintained an Outperform rating on the stock.

Barrington Research analyst Gary Prestopino maintains Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) with a Outperform and maintains $65 price target.

Barrington Research Maintains Outperform on Dave, Maintains $65 Price Target

<h2 class="wp-block-heading">Semiconductor Wafer Shipments To China&nbsp;</h2>
The Department of Commerce's Bureau of Industry and Security (BIS) imposed a <a href="https://www.bis.gov/press-release/bis-imposes-500000-mitigated-penalty-against-globalfoundries-74-shipments-entity">civil penalty </a>of $500,000 against GlobalFoundries Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>) last Friday. The penalty is related to shipments of <a href="https://www.benzinga.com/government/24/11/41811866/taiwan-semi-and-globalfoundries-finalize-major-us-funding-deals-eye-growth-in-chip-manufacturing">semiconductor wafers</a> valued at approximately $17.1 million to SJ Semiconductor, a China-based company on the BIS Entity List. 
The BIS said GlobalFoundries voluntarily disclosed the shipments and cooperated with the investigation which led to the significantly reduced fine.&nbsp;
"We want U.S. companies to be hypervigilant when sending semiconductor materials to Chinese parties," said Assistant Secretary for Export Enforcement Matthew S. Axelrod. "And when, as here, that vigilance falls short and semiconductor materials have gone where they shouldn't, we want companies to make voluntary disclosures, remediate, and cooperate with us."
Read Next: <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">What Does Trump&#8217;s Victory Mean For EV Giant Tesla And The Big 3 Automakers?</a>
<h2 class="wp-block-heading">FTC Sues Online Cash Advance Company Dave&nbsp;</h2>
The Federal Trade Commission announced on Tuesday that it is<a href="https://www.ftc.gov/news-events/news/press-releases/2024/11/ftc-takes-action-against-online-cash-advance-app-dave-deceiving-consumers-charging-undisclosed-fees"> taking action</a> against Dave, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) for allegedly using misleading marketing to deceive consumers, charging undisclosed fees and charging so-called "tips" without users' consent. 
"Dave lured in consumers living paycheck-to-paycheck with false claims of big-dollar advances, then reached into their pockets to give itself a so-called ‘tip,'" said Samuel Levine, Director of the FTC's Bureau of Consumer Protection.&nbsp;
"Whether the products are called cash advances, payday loans, or something else, the FTC will take action to protect consumers from unauthorized charges and deceptive claims," Levine added.&nbsp;
The FTC said Dave reported receiving more than $149 million <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41820744/9-stocks-to-watch-financial-sector-outshines-tech-in-2024-as-trump-trade-sparks-m-a">in revenue </a>from these so-called "tips" alone from 2022 through the first half of 2024.
<h2 class="wp-block-heading">Alleged Snowflake Hacker Arrested</h2>
According to a Bloomberg<a href="https://news.bloomberglaw.com/us-law-week/hacker-said-to-be-behind-breach-of-snowflake-customers-arrested"> report</a>, the alleged hacker behind a string of cyberattacks involving as many as 165 customers of Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) has been arrested in Canada, according to people familiar with the matter. 
The cyberattacks hit many of Snowflake's <a href="https://www.benzinga.com/news/24/06/39208037/snowflake-hit-with-data-breach-whats-going-on">major clients</a>, including Santander Bank and Ticketmaster. The hacker claimed to have stolen hundreds of millions of customer records, and Australian authorities confirmed successful compromises of several companies using Snowflake.&nbsp;
Alexander "Connor" Moucka was taken into custody on a provisional arrest warrant on Oct. 30 following a request from the US, according to Canada's Department of Justice. The exact charges against Moucka remain unknown.&nbsp;
"As extradition requests are considered confidential state-to-state communications, we cannot comment further on this case," said Ian McLeod, spokesperson for Canada's Department of Justice, as reported by Bloomberg.&nbsp;
Read More:&nbsp;
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<li><a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">Trump&#8217;s Potential &#8216;Health Czar&#8217; Robert F. Kennedy Jr. Rattles Vaccine Stocks: &#8216;Shoot First Reaction&#8217;</a></li>
</ul>
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Fintech news covering the emerging Financial Technology services sector

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Financial Crime Weekly: Alleged Snowflake Hacker Arrested, Banned China Chip Shipments, Payday Advance Company Sued

Financial stocks have surged ahead of tech in year-to-date performance, fueled by a Trump-led rally on Wednesday that lifted banks and brokers amid investor expectations of a <a href="https://www.benzinga.com/topic/donald-trump">deregulation-friendly political landscape ahead.</a>
The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) has risen by 30% in 2024, outpacing the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), which is up 26% this year. 
Small and mid-sized banks, tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), have also seen strong performance, with a 13% jump following election results, bringing them in line with tech sector gains. 
Financial stocks, which have lagged behind technology for six of the past seven years, are now catching up, propelled by renewed optimism for deregulation and M&amp;A activities.
<h1 class="wp-block-heading">Analysts Expect M&amp;A Activity to Heat Up</h1>
With the Trump administration&#8217;s return to the White House, analysts are projecting a significant uptick in mergers and acquisitions (M&amp;A) in the financial sector.
&#8220;Under the upcoming Trump II administration, we expect a more favorable backdrop for M&amp;A which could lead to additional activity in the space after having been quiet for the past few years,&#8221; said Anthony Elian, CFA, analyst at JPMorgan.
Lower regulatory barriers could pave the way for consolidation among smaller banks, while larger financial institutions are expected to benefit from a more active capital markets environment. 
Read also: <a href="https://www.benzinga.com/etfs/sector-etfs/24/11/41788181/regional-bank-stocks-notch-strongest-day-in-4-years-why-analysts-expect-several-tailwinds-from-t">Regional Bank Stocks Notch Strongest Day In 4 Years: Why Analysts Expect &#8216;Several Tailwinds&#8217; From Trump Policies</a>
<h1 class="wp-block-heading">A Lighter Regulatory Touch Boosts FinTech and Digital Assets</h1>
Devin Ryan, analyst at Citizens JMP Securities, highlighted that a Trump-led "sweep of Congress" could significantly ease regulatory pressures for the broader financial and fintech sectors.
&#8220;The &#8216;Trump Trade&#8217; had already been underway in the market in recent weeks, but the resounding presidential win, and perhaps more importantly, likely sweep of Congress, is adding fuel to the fire in stock moves,&#8221; Ryan explained.
For fintech firms, this shift could relieve recent regulatory scrutiny, particularly in areas such as connectivity with traditional banks and practices overseen by the Consumer Financial Protection Bureau (CFPB). Companies involved in digital assets stand to benefit even more, as regulatory clarity would open the door for new market entrants and increase industry participation.
"Digital assets could arguably be the biggest winner of them all," said Ryan, who sees sentiment in the space "improving materially from here." 
Ryan indicates the political climate has shifted to one more favorable for cryptocurrencies, as policymakers begin to recognize the economic and electoral weight of pro-crypto sentiment.
The expert is particularly bullish on several key players in the financial sector. 
Among asset managers and retail brokers poised to capitalize on the deregulation wave, Citizens JMP Securities&#8217; top picks are:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Price Target</th>
<th>Sector</th>
</tr>
</thead>
<tbody>
<tr>
<td>Perella Weinberg Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWP#NASDAQ">PWP</a>)</td>
<td> $26</td>
<td> Investment Banking</td>
</tr>
<tr>
<td>Blue Owl Capital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OWL#NYSE">OWL</a>)</td>
<td> $25</td>
<td> Alternative Asset Mgmt</td>
</tr>
<tr>
<td>Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>)</td>
<td> $60</td>
<td> Private Equity</td>
</tr>
<tr>
<td>LPL Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>)</td>
<td>$310</td>
<td> Wealth Management</td>
</tr>
<tr>
<td>Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>)</td>
<td> $84</td>
<td> Retail Brokerage</td>
</tr>
</tbody>
</table>
</figure>
In fintech, Ryan sees considerable upside for digital asset players and platforms with a strong foothold in crypto and private markets. His top picks include:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Price Target</th>
<th>Key Segment</th>
</tr>
</thead>
<tbody>
<tr>
<td>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)</td>
<td> $33</td>
<td> Retail Brokerage, Crypto</td>
</tr>
<tr>
<td>Forge Global Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRGE#NYSE">FRGE</a>)</td>
<td> $7</td>
<td> Private Markets</td>
</tr>
<tr>
<td>Dave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>)</td>
<td> $75</td>
<td> FinTech, Consumer Finance</td>
</tr>
<tr>
<td>Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)</td>
<td> $320</td>
<td> Crypto Exchange</td>
</tr>
</tbody>
</table>
</figure>
According to Ryan, Robinhood is expected to expand its crypto offerings, potentially enhancing customer engagement, while Forge Global is poised to gain from rising sentiment in private markets.
Coinbase, the largest U.S. cryptocurrency exchange, stands to benefit from clearer regulatory guidelines and the growing acceptance of crypto assets.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41807254/trump-election-raises-odds-of-roaring-2020s-scenario-veteran-wall-street-investor-s">Trump Election Raises Odds Of &#8216;Roaring 2020s Scenario,&#8217; Veteran Wall Street Investor Says: How High Could US Stock Market Rise?</a></li>
</ul>
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9 Stocks To Watch As Bank Stocks Blow Past Tech Names In 2024: Thank The 'Trump Trade'

Dave shares are trading higher after the company reported better-than-expected preliminary Q3 revenue results and announced it plans to raise its FY24 guidance in an upcoming earnings release on November 12.

"In light of the recent FTC action, we wanted to share preliminary Q3 results and reiterate the positive outlook for our business," said Jason Wilk, Founder and CEO of Dave.&nbsp;

Dave Plans To Raise Full-year 2024 Revenue And Adjusted EBITDA Guidance In Its  Upcoming Earnings Release On November 12

The complaint charges that Dave's conduct violates the FTC Act and the Restore Online Shoppers' Confidence Act.
 &nbsp;

FTC Takes Action Against Dave For Deceiving Consumers, Charging Undisclosed Fees

Dave Reports Preliminary Q3 Revenue Of $92.5M (Est $80.7M), Up 41% Y/Y; Net Income Of $0.5M, Including $7.0M Legal Settlement And Litigation Reserve Related To FTC Matter

- Reuters Citing Court Filing&nbsp;

U.S. FTC Sues Dave Inc, Accuses It Of Misleading Users

JMP Securities analyst Devin Ryan reiterates Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) with a Market Outperform and maintains $75 price target.

Reiteration

JMP Securities Reiterates Market Outperform on Dave, Maintains $75 Price Target

Reports Q3 revenue $92.5M, consensus $80.7M. "As we announced last week when issuing preliminary results, we once again exceeded growth and profita...

Dave reports Q3 EPS $1.51, consensus (11c)

Check out this evening's top movers from around Wall Street, compiled by The Fly.&nbsp;&nbsp; HIGHER AFTER EARNINGS – Dave (DAVE)&nbsp;up 33.5% Cav...

Closing Bell Movers: Instacart down 6% after earnings

Dave Inc. ( ($DAVE) ) has released its Q3 earnings. Here is a breakdown of the information Dave Inc. presented to its investors. Dave Inc., a leadi...

Dave Inc. Reports Record Q3, Boosts 2024 Outlook

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 repor...

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

Lake Street raised the firm's price target on Dave (DAVE) to $87 from $53 and keeps a Buy rating on the shares after Q3 results the firm calls "imp...

Dave price target raised to $87 from $53 at Lake Street

Lake Street analyst Jacob Stephan reiterated a Buy rating on Dave (DAVE – Research Report) today and set a price target of $87.00. The company's sh...

Dave (DAVE) Gets a Buy from Lake Street

Dave stock surges after guidance boost, new partnership

Markets opened with a strong tailwind, driven by the latest CPI data showing inflation in line with expectations, bolstering investor confidence.

Stocks Of The Day: 4-Pillar Power Plays You Can't Miss—Catch Today's Biggest Movers!

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In a report released today, Devin Ryan from JMP Securities reiterated a Buy rating on Dave (DAVE – Research Report), with a price target of $115.00...

Dave (DAVE) Receives a Rating Update from a Top Analyst

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월요일, 8월 19, 2024

사람들이 또한 지켜본다

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