Elevate Credit (NYSE:ELVT) had its price objective lowered by stock analysts at Maxim Group from $10.00 to $8.50 in a report issued on Monday. The brokerage currently has a “buy” rating on the stock. Maxim Group’s target price would suggest a potential upside of 23.73% from the company’s current price.
ELVT has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Elevate Credit from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a report on Friday, January 12th. JMP Securities assumed coverage on shares of Elevate Credit in a report on Tuesday, December 12th. They issued an “outperform” rating and a $10.00 target price for the company. BTIG Research downgraded shares of Elevate Credit from a “buy” rating to a “neutral” rating in a report on Friday. Finally, Credit Suisse Group reduced their target price on shares of Elevate Credit from $11.00 to $10.50 and set an “outperform” rating for the company in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.14.
Elevate Credit (ELVT) traded up $0.13 during mid-day trading on Monday, hitting $6.87. The company had a trading volume of 544,608 shares, compared to its average volume of 215,397. The company has a market capitalization of $282.14 and a P/E ratio of -48.35. Elevate Credit has a 12-month low of $5.90 and a 12-month high of $9.48.
A number of institutional investors have recently made changes to their positions in ELVT. Rhumbline Advisers bought a new position in Elevate Credit in the second quarter worth about $117,000. New York State Common Retirement Fund acquired a new position in shares of Elevate Credit during the second quarter valued at about $122,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Elevate Credit during the third quarter valued at about $126,000. BlueCrest Capital Management Ltd acquired a new position in shares of Elevate Credit during the second quarter valued at about $146,000. Finally, Phoenix Investment Adviser LLC acquired a new position in shares of Elevate Credit during the third quarter valued at about $147,000. Institutional investors and hedge funds own 52.77% of the company’s stock.
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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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