Elevate Credit (ELVT) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Elevate Credit (NYSE:ELVT) from a sell rating to a hold rating in a report issued on Monday.

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. “

Several other research analysts have also issued reports on ELVT. Maxim Group restated a buy rating and issued a $10.00 price target on shares of Elevate Credit in a research report on Tuesday, October 31st. BidaskClub upgraded Elevate Credit from a strong sell rating to a sell rating in a research report on Saturday, October 7th. JMP Securities began coverage on Elevate Credit in a research report on Tuesday, December 12th. They issued an outperform rating and a $10.00 price target on the stock. Finally, Credit Suisse Group reduced their target price on Elevate Credit from $11.00 to $10.50 and set an outperform rating on the stock in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $10.50.

Elevate Credit (NYSE:ELVT) traded down $0.06 during trading hours on Monday, hitting $7.53. The stock had a trading volume of 342,200 shares, compared to its average volume of 193,037. Elevate Credit has a 1-year low of $5.90 and a 1-year high of $9.48.

Elevate Credit (NYSE:ELVT) last posted its quarterly earnings results on Monday, October 30th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Elevate Credit had a return on equity of 1.40% and a net margin of 0.13%. The business had revenue of $172.80 million for the quarter, compared to analyst estimates of $175.00 million. During the same period last year, the company earned ($1.25) EPS. The firm’s revenue was up 12.3% on a year-over-year basis. research analysts anticipate that Elevate Credit will post 0.28 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of ELVT. Rhumbline Advisers bought a new position in Elevate Credit during the second quarter worth about $117,000. New York State Common Retirement Fund bought a new position in Elevate Credit during the second quarter worth about $122,000. Dynamic Technology Lab Private Ltd bought a new position in Elevate Credit during the third quarter worth about $126,000. BlueCrest Capital Management Ltd bought a new position in Elevate Credit during the second quarter worth about $146,000. Finally, Phoenix Investment Adviser LLC bought a new position in Elevate Credit during the third quarter worth about $147,000. Hedge funds and other institutional investors own 52.07% 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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