Elevate Credit (NYSE:ELVT) Upgraded 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 released on Friday, January 12th. 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. “

A number of other research firms also recently issued reports on ELVT. Maxim Group restated a buy rating and set a $10.00 target price on shares of Elevate Credit in a research report on Tuesday, October 31st. BidaskClub upgraded shares of Elevate Credit from a strong sell rating to a sell rating in a research report on Saturday, October 7th. JMP Securities started 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. Finally, Credit Suisse Group dropped their price target on shares of Elevate Credit from $11.00 to $10.50 and set an outperform rating for the company in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $10.31.

Shares of Elevate Credit (ELVT) opened at $7.76 on Friday. Elevate Credit has a 1-year low of $5.90 and a 1-year high of $9.48.

Institutional investors have recently added to or reduced their stakes in the business. BBR Partners LLC acquired a new stake in Elevate Credit during the 2nd quarter worth approximately $317,000. Northern Trust Corp acquired a new stake in shares of Elevate Credit in the 2nd quarter valued at $1,185,000. Martingale Asset Management L P acquired a new stake in shares of Elevate Credit in the 2nd quarter valued at $377,000. GSA Capital Partners LLP raised its holdings in shares of Elevate Credit by 912.5% in the 3rd quarter. GSA Capital Partners LLP now owns 121,500 shares of the company’s stock valued at $742,000 after purchasing an additional 109,500 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in shares of Elevate Credit by 286.2% in 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 in the last quarter. Institutional investors own 52.70% 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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