Elevate Credit Inc (ELVT) Receives $10.07 Average Target Price from Brokerages

Shares of Elevate Credit Inc (NYSE:ELVT) have been given a consensus rating of “Hold” by the eleven brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.07.

ELVT has been the subject of a number of research reports. BTIG Research lowered shares of Elevate Credit from a “buy” rating to a “neutral” rating in a research note on Friday, February 9th. Zacks Investment Research raised shares of Elevate Credit from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research note on Monday, February 5th. JMP Securities initiated coverage on shares of Elevate Credit in a research note on Tuesday, December 12th. They set an “outperform” rating and a $10.00 target price for the company. Credit Suisse Group decreased 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 note on Thursday, November 16th. Finally, Maxim Group decreased 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 note on Monday, February 12th.

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Elevate Credit (NYSE:ELVT) traded up $0.02 during trading on Tuesday, reaching $7.26. 31,584 shares of the company were exchanged, compared to its average volume of 162,147. Elevate Credit has a 1 year low of $5.90 and a 1 year high of $9.48. The firm has a market cap of $308.51 and a price-to-earnings ratio of -51.71.

Elevate Credit (NYSE:ELVT) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.01 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 analyst estimates of $194.10 million. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. research analysts expect that Elevate Credit will post 0.79 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new position in shares of Elevate Credit during the 4th quarter valued at $102,000. Jane Street Group LLC bought a new position in shares of Elevate Credit during the 4th quarter valued at $113,000. New York State Common Retirement Fund bought a new position in shares of Elevate Credit during the 2nd quarter valued at $122,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Elevate Credit during the 3rd quarter valued at $126,000. Finally, Phoenix Investment Adviser LLC bought a new position in shares of Elevate Credit during the 3rd quarter valued at $147,000. Institutional investors and hedge funds own 55.27% of the company’s stock.

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About Elevate Credit

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)

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