8 Unstoppable Tech Stocks to Buy Now

4. Dave Inc. (NASDAQ:DAVE)

Year-to-date Share Price Gain as of September 10: 287.24%

Number of Hedge Fund Holders: 13

Dave Inc. (NASDAQ:DAVE) is an American financial technology company that helps individuals manage their finances more efficiently. It addresses a market of around 180 million customers which has grown 8% since 2021. The company helps people manage cash flow, improve savings through budgeting tools, get extra cash through short-term funds, and much more at minimal overdraft costs.

Dave Inc. (NASDAQ:DAVE) has been doing great both in terms of accelerating revenue growth and reducing its operational expenses. The fiscal second quarter marked the third consecutive quarter of revenue growth and the fifth consecutive quarter of reducing operational expenses. Its revenue grew 31% year-over-year to reach $80 million, whereas the 28-day Delinquency Rate improved by 80 bps.

Moreover, the company significantly improved its profitability with adjusted EBITDA improving by $28 million year-over-year, and also grew its ExtraCash by 37% to $1.19 billion. As a result of exceptional performance during the first half of 2024, management has raised its guidance to $310 million and $325 million, with adjusted EBITDA between $40 million to $50 million.

DAVE was held by 13 hedge funds in Q2 2024, with total positions worth $50.95 million.