Elevate Credit Inc (NYSE:ELVT) Receives $6.28 Average Price Target from Brokerages

Shares of Elevate Credit Inc (NYSE:ELVT) have earned a consensus rating of “Hold” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.28.

A number of brokerages recently issued reports on ELVT. Zacks Investment Research raised shares of Elevate Credit from a “sell” rating to a “hold” rating in a report on Friday, April 19th. ValuEngine downgraded shares of Elevate Credit from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Maxim Group reissued a “buy” rating and set a $10.00 price target on shares of Elevate Credit in a report on Tuesday, February 12th. BTIG Research downgraded shares of Elevate Credit from a “buy” rating to a “neutral” rating and set a $4.66 price target on the stock. in a report on Thursday, February 14th. Finally, UBS Group downgraded shares of Elevate Credit from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Friday, February 22nd.

In other Elevate Credit news, COO Jason Harvison sold 40,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $4.36, for a total transaction of $174,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Scff Management Llc sold 57,592 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $4.35, for a total transaction of $250,525.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 223,453 shares of company stock worth $970,477. Insiders own 17.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ExodusPoint Capital Management LP acquired a new stake in Elevate Credit in the first quarter valued at approximately $51,000. Renaissance Technologies LLC grew its position in Elevate Credit by 12.7% in the first quarter. Renaissance Technologies LLC now owns 611,100 shares of the company’s stock valued at $2,652,000 after acquiring an additional 68,700 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Elevate Credit by 2.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 162,630 shares of the company’s stock valued at $706,000 after acquiring an additional 3,693 shares in the last quarter. Hancock Whitney Corp grew its position in Elevate Credit by 81.7% in the first quarter. Hancock Whitney Corp now owns 56,724 shares of the company’s stock valued at $246,000 after acquiring an additional 25,514 shares in the last quarter. Finally, BlackRock Inc. grew its position in Elevate Credit by 4.2% in the first quarter. BlackRock Inc. now owns 1,293,710 shares of the company’s stock valued at $5,614,000 after acquiring an additional 52,070 shares in the last quarter. 50.58% of the stock is currently owned by institutional investors and hedge funds.

NYSE:ELVT opened at $4.12 on Thursday. The firm has a market capitalization of $178.79 million, a PE ratio of 8.58 and a beta of 1.57. Elevate Credit has a 1-year low of $3.71 and a 1-year high of $11.27. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.12.

Elevate Credit (NYSE:ELVT) last released its quarterly earnings data on Monday, April 29th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.13. The firm had revenue of $189.50 million for 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 business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. Research analysts predict that Elevate Credit will post 0.6 EPS for the current fiscal year.

About Elevate Credit

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.

Read More: What is the outlook for the FAANG stocks?

Analyst Recommendations for Elevate Credit (NYSE:ELVT)

Receive News & Ratings for Elevate Credit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevate Credit and related companies with MarketBeat.com's FREE daily email newsletter.