For someone so young, Dave is very successful and helpful. Dave is a company that went public in 2021. It provides financial services to customers and its stock has soared lately.
On Tuesday, the IBD SmartSelect Composite Rating for Dave rose to 96 out of 99. The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. It's a singular distinction. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Dave stock, seen on a weekly chart, seems to be working on the right side of a very long cup pattern going back to just after its IPO. A look at the daily chart shows it's consolidating after a sharp run-up late last year, when it shot up from an intraday low 37.44 on Nov. 4 to a 108.50 high on Dec. 17.
Dave Stock Powers Higher
Los Angeles-based Dave dropped to a 77.44 low on Jan. 10 and started climbing again. Tuesday afternoon Dave traded above 98, up more than 8% for the day. Look for the stock to break out in volume at least 40% above average.
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Dave's financial management app helps users predict expenses and avoid overdraft fees.
Among its other ratings Dave has an 81 EPS Rating out of 99, and a best-possible 99 Relative Strength Rating. Additionally it holds a B- Accumulation/Distribution Rating, showing that funds are fairly strong buyers of its stock.
Four Quarters In Row Of Rising Sales, Profits
In Q3, the watchlist candidate reported $1.51 EPS, reversing hard from a 47-cent per share loss a year earlier. Revenue last quarter jumped 41% to $92.5 million, up from 31% growth in the prior quarter. That marks four consecutive reports with rising sales and earnings growth.
Dave earns the No. 3 rank among its peers in the Computer-Technical Services industry group. GitLab is the top-ranked stock in the group.
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