Elevate Credit, Inc. (NYSE:ELVT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

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 brokerages have also recently issued reports on ELVT. BTIG Research assumed coverage on Elevate Credit in a research note on Thursday, July 6th. They set a “buy” rating and a $12.00 price objective on the stock. Stephens initiated coverage on Elevate Credit in a research note on Wednesday, August 23rd. They issued an “equal weight” rating and a $8.50 target price for the company. Finally, Maxim Group assumed 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.64.

Shares of Elevate Credit (NYSE ELVT) traded down 3.35% during mid-day trading on Tuesday, hitting $6.06. 96,636 shares of the company traded hands. The stock’s market capitalization is $252.66 million. The firm’s 50 day moving average price is $6.30 and its 200-day moving average price is $7.47. Elevate Credit has a 1-year low of $5.90 and a 1-year high of $9.48.

Elevate Credit (NYSE:ELVT) last posted its quarterly earnings results on Monday, July 31st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.13. The business had revenue of $150.50 million during the quarter, compared to the consensus estimate of $157.38 million. Elevate Credit’s revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts forecast that Elevate Credit will post $0.35 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another website, it was copied illegally and republished in violation of United States and international copyright & trademark law. The original version of this piece of content can be read at https://www.thecerbatgem.com/2017/10/04/elevate-credit-inc-elvt-upgraded-to-hold-at-zacks-investment-research.html.

In other news, CFO Christopher Lutes purchased 10,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average price of $7.00 per share, with a total value of $70,000.00. Following the transaction, the chief financial officer now directly owns 60,000 shares of the company’s stock, valued at approximately $420,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

A number of large investors have recently made changes to their positions in ELVT. Rhumbline Advisers bought a new position in Elevate Credit during the 2nd quarter valued at approximately $117,000. New York State Common Retirement Fund bought a new stake in shares of Elevate Credit in the 2nd quarter worth approximately $122,000. BlueCrest Capital Management Ltd bought a new stake in shares of Elevate Credit in the 2nd quarter worth approximately $146,000. Citadel Advisors LLC bought a new stake in shares of Elevate Credit in the 2nd quarter worth approximately $163,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Elevate Credit in the 2nd quarter worth approximately $194,000. Institutional investors own 51.85% of the company’s stock.

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.

Analyst Recommendations for Elevate Credit (NYSE:ELVT)

Receive News & Stock Ratings for Elevate Credit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevate Credit Inc. and related stocks with our FREE daily email newsletter.