Elevate Credit, Inc. (ELVT) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Elevate Credit, Inc. (NYSE:ELVT) from a strong sell rating to a sell rating in a research report released on Saturday.

ELVT has been the topic of several other research reports. Zacks Investment Research downgraded shares of Elevate Credit from a hold rating to a sell rating in a report on Tuesday, September 12th. Maxim Group initiated coverage on shares of Elevate Credit in a report on Wednesday, July 12th. They issued a buy rating and a $10.00 price target on the stock. BTIG Research initiated coverage on shares of Elevate Credit in a report on Thursday, July 6th. They issued a buy rating and a $12.00 price target on the stock. Finally, Stephens initiated coverage on shares of Elevate Credit in a report on Wednesday, August 23rd. They issued an equal weight rating and a $8.50 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Elevate Credit presently has a consensus rating of Buy and an average price target of $10.64.

Elevate Credit (NYSE:ELVT) traded up 10.84% during mid-day trading on Friday, reaching $7.26. 251,999 shares of the company’s stock were exchanged. Elevate Credit has a one year low of $5.90 and a one year high of $9.48. The company’s 50-day moving average is $6.27 and its 200 day moving average is $7.45. The firm’s market capitalization is $302.69 million.

Elevate Credit (NYSE:ELVT) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.13. The company had revenue of $150.50 million for the quarter, compared to analyst estimates of $157.38 million. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts predict that Elevate Credit will post $0.35 earnings per share for the current fiscal year.

WARNING: “Elevate Credit, Inc. (ELVT) Upgraded to Sell at BidaskClub” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://ledgergazette.com/2017/10/08/elevate-credit-inc-elvt-upgraded-to-sell-at-bidaskclub.html.

In other Elevate Credit news, CFO Christopher Lutes purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $7.00 per share, for a total transaction of $70,000.00. Following the acquisition, the chief financial officer now owns 60,000 shares in the company, valued at $420,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

A number of large investors have recently modified their holdings of the stock. California State Teachers Retirement System acquired a new position in Elevate Credit in the 2nd quarter worth approximately $202,000. Empyrean Capital Partners LP acquired a new position in Elevate Credit in the 2nd quarter worth approximately $20,322,000. BlueCrest Capital Management Ltd acquired a new position in Elevate Credit in the 2nd quarter worth approximately $146,000. State Street Corp acquired a new position in Elevate Credit in the 2nd quarte

ELVT has been the topic of several other research reports. Zacks Investment Research downgraded shares of Elevate Credit from a hold rating to a sell rating in a report on Tuesday, September 12th. Maxim Group initiated coverage on shares of Elevate Credit in a report on Wednesday, July 12th. They issued a buy rating and a $10.00 price target on the stock. BTIG Research initiated coverage on shares of Elevate Credit in a report on Thursday, July 6th. They issued a buy rating and a $12.00 price target on the stock. Finally, Stephens initiated coverage on shares of Elevate Credit in a report on Wednesday, August 23rd. They issued an equal weight rating and a $8.50 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Elevate Credit presently has a consensus rating of Buy and an average price target of $10.64.

Elevate Credit (NYSE:ELVT) traded up 10.84% during mid-day trading on Friday, reaching $7.26. 251,999 shares of the company’s stock were exchanged. Elevate Credit has a one year low of $5.90 and a one year high of $9.48. The company’s 50-day moving average is $6.27 and its 200 day moving average is $7.45. The firm’s market capitalization is $302.69 million.

Elevate Credit (NYSE:ELVT) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.13. The company had revenue of $150.50 million for the quarter, compared to analyst estimates of $157.38 million. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts predict that Elevate Credit will post $0.35 earnings per share for the current fiscal year.

WARNING: “Elevate Credit, Inc. (ELVT) Upgraded to Sell at BidaskClub” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://ledgergazette.com/2017/10/08/elevate-credit-inc-elvt-upgraded-to-sell-at-bidaskclub.html.

In other Elevate Credit news, CFO Christopher Lutes purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $7.00 per share, for a total transaction of $70,000.00. Following the acquisition, the chief financial officer now owns 60,000 shares in the company, valued at $420,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

A number of large investors have recently modified their holdings of the stock. California State Teachers Retirement System acquired a new position in Elevate Credit in the 2nd quarter worth approximately $202,000. Empyrean Capital Partners LP acquired a new position in Elevate Credit in the 2nd quarter worth approximately $20,322,000. BlueCrest Capital Management Ltd acquired a new position in Elevate Credit in the 2nd quarter worth approximately $146,000. State Street Corp acquired a new position in Elevate Credit in the 2nd quarter worth approximately $1,176,000. Finally, Goldman Sachs Group Inc. acquired a new position in Elevate Credit in the 2nd quarter worth approximately $271,000. Institutional investors own 51.85% of the company’s stock.

About Elevate Credit

Elevate Credit, Inc provides online credit solutions to non-prime consumers, typically defined as those with credit scores of less than 700. The Company uses advanced technology risk analytics to provide financial options to its customers, who are not well-served by either banks or legacy non-prime lenders.

Analyst Recommendations for Elevate Credit (NYSE:ELVT)

Receive News & Ratings for Elevate Credit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevate Credit Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply