Elevate Credit, Inc. (ELVT) Given Consensus Rating of “Buy” by Analysts
Shares of Elevate Credit, Inc. (NYSE:ELVT) have been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.00.
A number of analysts have issued reports on ELVT shares. Maxim Group started coverage on Elevate Credit in a research note on Wednesday, July 12th. They issued a “buy” rating and a $10.00 target price for the company. Zacks Investment Research downgraded Elevate Credit from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BTIG Research started coverage on Elevate Credit in a research note on Thursday, July 6th. They issued a “buy” rating and a $12.00 target price for the company. Stifel Nicolaus started coverage on Elevate Credit in a research note on Monday, May 1st. They issued a “buy” rating and a $12.00 target price for the company. Finally, William Blair started coverage on Elevate Credit in a research note on Monday, May 1st. They issued an “outperform” rating for the company.
Elevate Credit (NYSE ELVT) opened at 7.22 on Monday. The company has a 50 day moving average of $8.16 and a 200 day moving average of $7.95. Elevate Credit has a 52 week low of $6.80 and a 52 week high of $9.48. The company’s market capitalization is $278.27 million.
Elevate Credit (NYSE:ELVT) last announced its quarterly earnings data on Monday, July 31st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.13. The firm had revenue of $150.50 million during the quarter, compared to analysts’ expectations of $157.38 million. The business’s quarterly revenue was up 18.7% on a year-over-year basis. On average, equities analysts forecast that Elevate Credit will post $0.35 EPS for the current fiscal year.
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In other Elevate Credit news, CFO Christopher Lutes acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average cost of $7.06 per share, with a total value of $70,600.00. Following the transaction, the chief financial officer now owns 50,000 shares of the company’s stock, valued at $353,000. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Henry W. Ramsey acquired 9,500 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average cost of $7.17 per share, with a total value of $68,115.00. Following the completion of the transaction, the insider now directly owns 9,500 shares in the company, valued at approximately $68,115. The disclosure for this purchase can be found here. Insiders have purchased a total of 21,500 shares of company stock valued at $154,795 over the last three months.
Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of Elevate Credit during the second quarter worth about $376,000. Rhumbline Advisers purchased a new position in shares of Elevate Credit during the second quarter worth approximately $117,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Elevate Credit during the second quarter worth approximately $194,000. Finally, Spark Investment Management LLC purchased a new position in shares of Elevate Credit during the second quarter worth approximately $262,000. 0.09% of the stock is owned by hedge funds and other institutional investors.
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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