Elevate Credit (NYSE:ELVT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, March 16th.
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 analysts have also weighed in on ELVT. JMP Securities began coverage on shares of Elevate Credit in a research note on Tuesday, December 12th. They set an “outperform” rating and a $10.00 price objective for the company. BTIG Research lowered shares of Elevate Credit from a “buy” rating to a “neutral” rating in a research note on Friday, February 9th. Credit Suisse Group cut 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, Maxim Group cut their target price on shares of Elevate Credit from $10.00 to $8.50 and set a “buy” rating for the company in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $10.14.
Elevate Credit stock traded up $0.01 during midday trading on Friday, reaching $6.70. 98,759 shares of the company’s stock traded hands, compared to its average volume of 85,260. Elevate Credit has a fifty-two week low of $5.90 and a fifty-two week high of $9.48. The stock has a market cap of $280.04 and a PE ratio of -47.85.
Elevate Credit (NYSE:ELVT) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.14). Elevate Credit had a positive return on equity of 6.84% and a negative net margin of 1.03%. The firm had revenue of $193.44 million during the quarter, compared to the consensus estimate of $194.10 million. Elevate Credit’s revenue was up 14.5% on a year-over-year basis. equities research analysts forecast that Elevate Credit will post 0.73 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of ELVT. Teachers Advisors LLC bought a new position in shares of Elevate Credit in the second quarter worth about $237,000. TIAA CREF Investment Management LLC purchased a new stake in Elevate Credit in the second quarter worth about $533,000. New York State Common Retirement Fund purchased a new stake in Elevate Credit in the second quarter worth about $122,000. Northern Trust Corp purchased a new stake in Elevate Credit in the second quarter worth about $1,185,000. Finally, Vanguard Group Inc. purchased a new stake in Elevate Credit in the second quarter worth about $1,806,000. Institutional investors and hedge funds own 42.25% of the company’s stock.
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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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