Analysts Set Elevate Credit Inc (ELVT) Target Price at $6.28

Elevate Credit Inc (NYSE:ELVT) has received a consensus rating of “Hold” from the ten brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $6.28.

A number of research analysts have recently commented on ELVT shares. Maxim Group reiterated a “buy” rating and set a $10.00 target price on shares of Elevate Credit in a research report on Tuesday, February 12th. BTIG Research upgraded Elevate Credit from a “neutral” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, February 13th. Zacks Investment Research downgraded Elevate Credit from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. UBS Group downgraded Elevate Credit from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research report on Friday, February 22nd. Finally, ValuEngine downgraded Elevate Credit from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st.

ELVT traded down $0.02 during trading on Friday, reaching $4.57. 109,580 shares of the company traded hands, compared to its average volume of 138,655. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.10 and a quick ratio of 1.06. Elevate Credit has a 12-month low of $3.71 and a 12-month high of $11.27. The firm has a market cap of $201.79 million, a P/E ratio of 11.72 and a beta of 1.76.



Elevate Credit (NYSE:ELVT) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. The business had revenue of $189.50 million during the quarter, compared to analyst estimates of $195.52 million. Elevate Credit had a net margin of 2.09% and a return on equity of 18.02%. The company’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. On average, sell-side analysts anticipate that Elevate Credit will post 0.6 earnings per share for the current year.

In related news, COO Jason Harvison sold 40,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $4.36, for a total value of $174,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kenneth E. Rees sold 15,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $4.61, for a total value of $69,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock valued at $310,150 over the last quarter. Corporate insiders own 17.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ELVT. Nantahala Capital Management LLC lifted its position in Elevate Credit by 256.8% in the fourth quarter. Nantahala Capital Management LLC now owns 1,582,364 shares of the company’s stock worth $7,089,000 after buying an additional 1,138,873 shares during the last quarter. 683 Capital Management LLC bought a new stake in Elevate Credit in the fourth quarter worth $4,683,000. Prescott Group Capital Management L.L.C. lifted its position in Elevate Credit by 72.9% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 1,801,576 shares of the company’s stock worth $8,071,000 after buying an additional 759,482 shares during the last quarter. Renaissance Technologies LLC lifted its position in Elevate Credit by 323.3% in the third quarter. Renaissance Technologies LLC now owns 693,438 shares of the company’s stock worth $5,589,000 after buying an additional 529,638 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Elevate Credit by 23.2% in the third quarter. BlackRock Inc. now owns 1,304,705 shares of the company’s stock worth $10,516,000 after buying an additional 246,120 shares during the last quarter. Institutional investors own 48.70% of the company’s stock.

Elevate Credit Company Profile

Elevate Credit, Inc provides online credit solutions to non-prime consumers in the United States and the United Kingdom. The company offers unsecured online installment loans, lines of credit, and credit cards. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; Sunny, an installment loan product; and Today Card, a credit card product.

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Analyst Recommendations for Elevate Credit (NYSE:ELVT)

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