Analysts Set Elevate Credit Inc (ELVT) Price Target at $10.57

Shares of Elevate Credit Inc (NYSE:ELVT) have received a consensus recommendation of “Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $10.57.

Several research firms recently commented on ELVT. Stephens began coverage on shares of Elevate Credit in a research note on Wednesday, August 23rd. They set an “equal weight” rating and a $8.50 price objective on the stock. Maxim Group reissued a “buy” rating and set a $10.00 price objective on shares of Elevate Credit in a research note on Tuesday, October 31st. Zacks Investment Research upgraded shares of Elevate Credit from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. Credit Suisse Group dropped their target price on shares of Elevate Credit from $11.00 to $10.50 and set an “outperform” rating on the stock in a research note on Thursday, November 16th. Finally, BidaskClub upgraded shares of Elevate Credit from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 7th.

Elevate Credit (NYSE ELVT) traded down $0.09 during trading hours on Friday, reaching $7.27. 229,086 shares of the company traded hands, compared to its average volume of 179,267. Elevate Credit has a 1-year low of $5.90 and a 1-year high of $9.48.

Elevate Credit (NYSE:ELVT) last posted its quarterly earnings data on Monday, October 30th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. Elevate Credit had a net margin of 0.13% and a return on equity of 1.40%. The business had revenue of $172.80 million for the quarter, compared to analyst estimates of $175.00 million. During the same quarter in the previous year, the firm posted ($1.25) earnings per share. Elevate Credit’s quarterly revenue was up 12.3% on a year-over-year basis. analysts expect that Elevate Credit will post 0.27 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers bought a new position in shares of Elevate Credit in the second quarter worth approximately $117,000. New York State Common Retirement Fund bought a new position in shares of Elevate Credit in the second quarter worth approximately $122,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Elevate Credit in the third quarter worth approximately $126,000. BlueCrest Capital Management Ltd bought a new position in shares of Elevate Credit in the second quarter worth approximately $146,000. Finally, Phoenix Investment Adviser LLC bought a new position in shares of Elevate Credit in the third quarter worth approximately $147,000. Hedge funds and other institutional investors own 52.07% of the company’s stock.

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Elevate Credit Company Profile

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)

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