Elevate Credit Inc (ELVT) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Elevate Credit Inc (NYSE:ELVT) have been given an average rating of “Buy” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.57.
ELVT has been the topic of a number of analyst reports. Zacks Investment Research cut Elevate Credit from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Credit Suisse Group dropped their price target on Elevate Credit from $11.00 to $10.50 and set an “outperform” rating on the stock in a research report on Thursday, November 16th. Stephens initiated coverage on Elevate Credit in a research report on Wednesday, August 23rd. They issued an “equal weight” rating and a $8.50 price target on the stock. Maxim Group reissued a “buy” rating and issued a $10.00 price target on shares of Elevate Credit in a research report on Tuesday, October 31st. Finally, BidaskClub raised Elevate Credit from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 7th.
Elevate Credit (ELVT) opened at $7.40 on Friday. Elevate Credit has a twelve month low of $5.90 and a twelve month high of $9.48.
Hedge funds have recently added to or reduced their stakes in the stock. BBR Partners LLC bought a new position in Elevate Credit in the 2nd quarter valued at approximately $317,000. Martingale Asset Management L P bought a new position in Elevate Credit in the 2nd quarter valued at approximately $377,000. Goldman Sachs Group Inc. bought a new position in Elevate Credit in the 2nd quarter valued at approximately $271,000. Bank of New York Mellon Corp bought a new position in Elevate Credit in the 2nd quarter valued at approximately $376,000. Finally, Spark Investment Management LLC bought a new position in Elevate Credit in the 2nd quarter valued at approximately $262,000. 51.81% of the stock is currently owned by institutional investors and hedge funds.
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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