Zacks Investment Research upgraded shares of Elevate Credit (NYSE:ELVT) from a sell rating to a hold rating in a research report report published on Friday.
According to Zacks, “Elevate Credit, Inc. offer online credit solutions to non-prime consumers. The Company offers online installment loans and lines of credits. Its products include credit building, financial wellness programs, credit reporting, free credit monitoring and online financial literacy videos and tools. Elevate Credit, Inc. is based in Forth Worth, United States. “
A number of other equities analysts have also recently commented on the stock. Maxim Group cut their price target on shares of Elevate Credit from $10.00 to $8.50 and set a buy rating for the company in a research note on Monday, February 12th. BTIG Research cut shares of Elevate Credit from a buy rating to a neutral rating in a research note on Friday, February 9th. JMP Securities assumed coverage on shares of Elevate Credit in a research note on Tuesday, December 12th. They issued an outperform rating and a $10.00 price target for the company. Finally, Credit Suisse Group cut their price target 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $10.14.
Elevate Credit stock opened at $7.29 on Friday. Elevate Credit has a 12 month low of $5.90 and a 12 month high of $9.48. The company has a market cap of $305.16 and a P/E ratio of 45.56.
Elevate Credit (NYSE:ELVT) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.14). Elevate Credit had a positive return on equity of 6.84% and a negative net margin of 1.03%. The company had revenue of $193.44 million during the quarter, compared to analysts’ expectations of $194.10 million. Elevate Credit’s revenue was up 14.5% on a year-over-year basis. analysts anticipate that Elevate Credit will post 0.73 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in ELVT. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Elevate Credit in the 4th quarter valued at $1,847,000. Vanguard Group Inc. purchased a new stake in shares of Elevate Credit in the 2nd quarter valued at $1,806,000. Northern Trust Corp purchased a new stake in shares of Elevate Credit in the 2nd quarter valued at $1,185,000. State Street Corp purchased a new stake in shares of Elevate Credit in the 2nd quarter valued at $1,176,000. Finally, Paragon Wealth Strategies LLC boosted its stake in shares of Elevate Credit by 1,074.5% in the 4th quarter. Paragon Wealth Strategies LLC now owns 135,062 shares of the company’s stock valued at $1,017,000 after purchasing an additional 123,562 shares in the last quarter. 55.27% of the stock is owned by institutional investors.
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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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