10 Best High Beta Stocks to Buy Now

7. Dave Inc. (NASDAQ:DAVE)

Beta: 4.0

Potential Upside: 28.5%

Number of Hedge Fund Holders: 42

Dave Inc. (NASDAQ:DAVE) is one of the best high-beta stocks to buy now. On August 18, Barrington analyst Gary Prestopino maintained a Buy rating on Dave with an unchanged price target of $290. The reaffirmation followed Q2 FY25 results that exceeded both his and consensus expectations.

Driven by robust operating leverage, Dave Inc. (NASDAQ:DAVE) reported strong revenue growth to $131.7 million and an adjusted EBITDA of $50.9 million. The company reported a rise in monthly transacting members and average revenue per user, which, along with a revised fee structure, led to this growth. On a more positive note, service-based revenue experienced a solid 70% year-over-year growth, while transaction-based revenue increased by 20%.

The analyst also highlighted Dave Inc.’s (NASDAQ:DAVE) discipline on the cost side, as the company managed operating expenses effectively while driving strong growth in ExtraCash originations and Dave Card spend. This combination of top-line expansion, margin improvement, and operating efficiency underpinned Prestopino’s constructive outlook for the company’s earnings trajectory.

Dave Inc. (NASDAQ:DAVE) is a digital banking platform focused on improving financial access for underserved consumers. The company offers services including cash advances, spending accounts, and budgeting tools.