Jefferies Group Weighs in on Elevate Credit Inc’s Q1 2018 Earnings (ELVT)

Elevate Credit Inc (NYSE:ELVT) – Research analysts at Jefferies Group lifted their Q1 2018 earnings per share (EPS) estimates for Elevate Credit in a research report issued on Wednesday. Jefferies Group analyst J. Hecht now forecasts that the company will earn $0.38 per share for the quarter, up from their previous forecast of $0.34. Jefferies Group also issued estimates for Elevate Credit’s Q4 2018 earnings at $0.38 EPS and FY2018 earnings at $1.14 EPS.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Elevate Credit from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Friday. JMP Securities began coverage on shares of Elevate Credit in a research report on Tuesday, December 12th. They issued an “outperform” rating and a $10.00 price objective for the company. Credit Suisse Group decreased their price objective on shares of Elevate Credit from $11.00 to $10.50 and set an “outperform” rating for the company in a research report on Thursday, November 16th. Maxim Group reissued a “buy” rating and issued a $10.00 price objective on shares of Elevate Credit in a research report on Tuesday, October 31st. Finally, BidaskClub raised shares of Elevate Credit from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $10.31.

Shares of Elevate Credit (NYSE:ELVT) opened at $7.74 on Friday. Elevate Credit has a twelve month low of $5.90 and a twelve month high of $9.48. The stock has a market capitalization of $324.00 and a price-to-earnings ratio of 387.00.

Elevate Credit (NYSE:ELVT) last announced its quarterly earnings results on Monday, October 30th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $172.80 million during the quarter, compared to the consensus estimate of $175.00 million. During the same period in the prior year, the firm earned ($1.25) EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year.

Hedge funds have recently modified their holdings of the company. Rhumbline Advisers bought a new position in shares of Elevate Credit during the second quarter worth about $117,000. New York State Common Retirement Fund bought a new position in shares of Elevate Credit during the second quarter worth about $122,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Elevate Credit during the third quarter worth about $126,000. BlueCrest Capital Management Ltd bought a new position in shares of Elevate Credit during the second quarter worth about $146,000. Finally, Phoenix Investment Adviser LLC bought a new position in shares of Elevate Credit during the third quarter worth about $147,000. 52.07% of the stock is currently owned by institutional investors and hedge funds.

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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.

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