Elevate Credit (ELVT) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Elevate Credit (NYSE:ELVT) from a hold rating to a buy rating in a research report report published on Friday morning. They currently have $8.75 price target on the stock.
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. “
Several other equities research analysts also recently weighed in on ELVT. Maxim Group reissued a buy rating and issued a $10.00 target price on shares of Elevate Credit in a research report on Tuesday, October 31st. BidaskClub raised shares of Elevate Credit from a strong sell rating to a sell rating in a research report on Saturday, October 7th. Credit Suisse Group dropped their target price on shares of Elevate Credit from $11.00 to $10.50 and set an outperform rating for the company in a research report on Thursday, November 16th. Finally, JMP Securities assumed coverage on shares of Elevate Credit in a research report on Tuesday, December 12th. They set an outperform rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Elevate Credit currently has an average rating of Buy and a consensus price target of $10.31.
Elevate Credit (NYSE:ELVT) last released its earnings results on Monday, October 30th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company had revenue of $172.80 million during the quarter, compared to the consensus estimate of $175.00 million. Elevate Credit had a net margin of 0.13% and a return on equity of 1.40%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.25) EPS. sell-side analysts anticipate that Elevate Credit will post 0.28 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its position in shares of Elevate Credit by 912.5% during the 3rd quarter. GSA Capital Partners LLP now owns 121,500 shares of the company’s stock valued at $742,000 after buying an additional 109,500 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in Elevate Credit by 203.2% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 38,200 shares of the company’s stock valued at $233,000 after purchasing an additional 25,600 shares during the period. Citadel Advisors LLC boosted its stake in Elevate Credit by 286.2% during the 3rd quarter. Citadel Advisors LLC now owns 79,688 shares of the company’s stock valued at $487,000 after purchasing an additional 59,055 shares during the period. Phoenix Investment Adviser LLC acquired a new position in Elevate Credit during the 3rd quarter valued at about $147,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Elevate Credit during the 3rd quarter valued at about $126,000. 52.07% of the stock is owned by institutional investors and hedge funds.
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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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