JMP Securities initiated coverage on shares of Elevate Credit (NYSE:ELVT) in a research report sent to investors on Tuesday morning. The brokerage issued an outperform rating and a $10.00 price target on the stock.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Elevate Credit from a hold rating to a sell rating in a research note on Wednesday, November 1st. Credit Suisse Group reduced their price objective on shares of Elevate Credit from $11.00 to $10.50 and set an outperform rating for the company in a research note on Thursday, November 16th. Stephens started coverage on shares of Elevate Credit in a research note on Wednesday, August 23rd. They issued an equal weight rating and a $8.50 price objective for the company. Maxim Group restated a buy rating and issued a $10.00 price objective on shares of Elevate Credit in a research note on Tuesday, October 31st. Finally, BidaskClub upgraded shares of Elevate Credit from a strong sell rating to a sell rating in a research note on Saturday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $10.50.
Elevate Credit (NYSE:ELVT) traded up $0.14 during mid-day trading on Tuesday, reaching $7.34. 317,800 shares of the company’s stock traded hands, compared to its average volume of 182,758. Elevate Credit has a 12 month low of $5.90 and a 12 month high of $9.48.
Elevate Credit (NYSE:ELVT) last posted its earnings results on Monday, October 30th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company had revenue of $172.80 million during the quarter, compared to the consensus estimate of $175.00 million. Elevate Credit had a net margin of 0.13% and a return on equity of 1.40%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.25) earnings per share. sell-side analysts predict that Elevate Credit will post 0.27 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers bought a new stake in Elevate Credit in the 2nd quarter valued at $117,000. New York State Common Retirement Fund bought a new stake in Elevate Credit in the 2nd quarter valued at $122,000. Dynamic Technology Lab Private Ltd bought a new stake in Elevate Credit in the 3rd quarter valued at $126,000. BlueCrest Capital Management Ltd bought a new stake in Elevate Credit in the 2nd quarter valued at $146,000. Finally, Phoenix Investment Adviser LLC bought a new stake in Elevate Credit in the 3rd quarter valued at $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.
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