Elevate Credit Inc (NYSE:ELVT) has been assigned a consensus rating of “Hold” from the eleven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $10.07.
A number of analysts have recently issued reports on the company. Maxim Group decreased their target price on Elevate Credit from $10.00 to $8.50 and set a “buy” rating for the company in a report on Monday, February 12th. Zacks Investment Research cut Elevate Credit from a “buy” rating to a “hold” rating in a report on Friday, February 9th. BTIG Research cut Elevate Credit from a “buy” rating to a “neutral” rating in a report on Friday, February 9th. JMP Securities assumed coverage on Elevate Credit in a report on Tuesday, December 12th. They set an “outperform” rating and a $10.00 target price for the company. Finally, Credit Suisse Group decreased their target price on Elevate Credit from $11.00 to $10.50 and set an “outperform” rating for the company in a report on Thursday, November 16th.
Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC acquired a new position in shares of Elevate Credit in the 4th quarter valued at approximately $102,000. Jane Street Group LLC acquired a new position in shares of Elevate Credit in the 4th quarter valued at approximately $113,000. New York State Common Retirement Fund acquired a new position in shares of Elevate Credit in the 2nd quarter valued at approximately $122,000. Wells Fargo & Company MN raised its position in shares of Elevate Credit by 1,839.5% in the 4th quarter. Wells Fargo & Company MN now owns 19,473 shares of the company’s stock valued at $147,000 after purchasing an additional 18,469 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Elevate Credit in the 3rd quarter valued at approximately $126,000. 55.27% of the stock is currently owned by hedge funds and other institutional investors.
Elevate Credit (NYSE:ELVT) last issued its earnings results on Thursday, February 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.14). Elevate Credit had a positive return on equity of 7.30% and a negative net margin of 1.03%. The firm had revenue of $193.44 million for the quarter, compared to analysts’ expectations of $194.10 million. The company’s quarterly revenue was up 14.5% on a year-over-year basis. analysts expect that Elevate Credit will post 0.91 earnings per share for the current year.
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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