Shares of Elevate Credit Inc (NYSE:ELVT) have been given a consensus rating of “Buy” by the eleven analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $10.31.
Several research firms have weighed in on ELVT. Zacks Investment Research upgraded shares of Elevate Credit from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Friday, January 12th. JMP Securities began coverage on shares of Elevate Credit in a report on Tuesday, December 12th. They issued an “outperform” rating and a $10.00 target price on the stock. Credit Suisse Group decreased their target price on shares of Elevate Credit from $11.00 to $10.50 and set an “outperform” rating on the stock in a report on Thursday, November 16th. Maxim Group reiterated a “buy” rating and issued a $10.00 target price on shares of Elevate Credit in a report on Tuesday, October 31st. Finally, BidaskClub upgraded shares of Elevate Credit from a “strong sell” rating to a “sell” rating in a report on Saturday, October 7th.
Elevate Credit (NYSE ELVT) opened at $7.58 on Monday. Elevate Credit has a 52-week low of $5.90 and a 52-week high of $9.48.
Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new stake in shares of Elevate Credit in the 2nd quarter valued at approximately $117,000. New York State Common Retirement Fund purchased a new stake in shares of Elevate Credit in the 2nd quarter valued at approximately $122,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Elevate Credit in the 2nd quarter valued at approximately $146,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Elevate Credit in the 3rd quarter valued at approximately $126,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Elevate Credit in the 2nd quarter valued at approximately $163,000. 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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