Analysts expect that Elevate Credit Inc (NYSE:ELVT) will report $188.82 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Elevate Credit’s earnings. The lowest sales estimate is $185.95 million and the highest is $192.00 million. Elevate Credit posted sales of $156.37 million in the same quarter last year, which suggests a positive year over year growth rate of 20.8%. The business is expected to announce its next earnings results on Monday, May 14th.
On average, analysts expect that Elevate Credit will report full year sales of $188.82 million for the current year, with estimates ranging from $792.48 million to $803.10 million. For the next financial year, analysts forecast that the business will report sales of $911.82 million per share, with estimates ranging from $886.10 million to $928.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Elevate Credit.
Elevate Credit (NYSE:ELVT) last issued its earnings results on Thursday, February 8th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.14). The firm had revenue of $193.44 million during the quarter, compared to analyst estimates of $194.10 million. Elevate Credit had a negative net margin of 1.03% and a positive return on equity of 7.30%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year.
Several analysts recently weighed in on ELVT shares. Maxim Group reduced their target price on shares of Elevate Credit from $10.00 to $8.50 and set a “buy” rating on the stock in a report on Monday, February 12th. Zacks Investment Research raised shares of Elevate Credit from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Monday, February 5th. BTIG Research cut shares of Elevate Credit from a “buy” rating to a “neutral” rating in a report on Friday, February 9th. JMP Securities began coverage on shares of Elevate Credit in a report on Tuesday, December 12th. They issued an “outperform” rating and a $10.00 target price on the stock. Finally, Credit Suisse Group cut their price objective on shares of Elevate Credit from $11.00 to $10.50 and set an “outperform” rating on the stock in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Elevate Credit currently has an average rating of “Hold” and a consensus target price of $10.14.
A number of large investors have recently bought and sold shares of ELVT. Millennium Management LLC purchased a new position in Elevate Credit in the 4th quarter valued at $102,000. Jane Street Group LLC purchased a new position in Elevate Credit in the 4th quarter valued at $113,000. New York State Common Retirement Fund purchased a new position in Elevate Credit in the 2nd quarter valued at $122,000. Dynamic Technology Lab Private Ltd purchased a new position in Elevate Credit in the 3rd quarter valued at $126,000. Finally, Phoenix Investment Adviser LLC purchased a new position in Elevate Credit in the 3rd quarter valued at $147,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.
Shares of Elevate Credit (NYSE:ELVT) opened at $7.20 on Thursday. The firm has a market cap of $305.16 and a P/E ratio of 45.56. Elevate Credit has a 1-year low of $5.90 and a 1-year high of $9.48.
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.
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