JMP Securities started coverage on shares of Elevate Credit (NYSE:ELVT) in a report released on Tuesday. The brokerage set an “outperform” rating and a $10.00 price target on the stock. JMP Securities’ price objective would suggest a potential upside of 37.93% from the stock’s previous close.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Elevate Credit from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. 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. Stephens initiated coverage on shares of Elevate Credit in a research note on Wednesday, August 23rd. They set an “equal weight” rating and a $8.50 price target for the company. Maxim Group reaffirmed a “buy” rating and set a $10.00 price target on shares of Elevate Credit in a research note on Tuesday, October 31st. Finally, BidaskClub raised shares of Elevate Credit from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Elevate Credit currently has an average rating of “Buy” and a consensus target price of $10.50.
Elevate Credit (NYSE:ELVT) opened at $7.25 on Tuesday. Elevate Credit has a 52 week low of $5.90 and a 52 week high of $9.48.
Elevate Credit (NYSE:ELVT) last issued its quarterly earnings data on Monday, October 30th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Elevate Credit had a net margin of 0.13% and a return on equity of 1.40%. The business had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $175.00 million. During the same period last year, the company posted ($1.25) EPS. The business’s revenue was up 12.3% on a year-over-year basis. sell-side analysts anticipate that Elevate Credit will post 0.27 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in ELVT. Spark Investment Management LLC purchased a new stake in Elevate Credit in the 2nd quarter valued at about $262,000. Schwab Charles Investment Management Inc. purchased a new stake in Elevate Credit in the 2nd quarter valued at about $194,000. Rhumbline Advisers purchased a new stake in Elevate Credit in the 2nd quarter valued at about $117,000. Bank of New York Mellon Corp purchased a new stake in Elevate Credit in the 2nd quarter valued at about $376,000. Finally, Martingale Asset Management L P purchased a new stake in Elevate Credit in the 2nd quarter valued at about $377,000. 52.07% of the stock is owned by hedge funds and other institutional investors.
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.
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