Shares of Elevate Credit Inc (NYSE:ELVT) have been given a consensus rating of “Hold” by the ten brokerages that are presently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.28.
Several equities analysts recently weighed in on ELVT shares. BTIG Research raised shares of Elevate Credit from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Wednesday, February 13th. Maxim Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of Elevate Credit in a research report on Tuesday, February 12th. Zacks Investment Research raised shares of Elevate Credit from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Jefferies Financial Group lowered shares of Elevate Credit from a “buy” rating to a “hold” rating and dropped their price target for the company from $9.50 to $5.00 in a research report on Tuesday, January 8th. Finally, UBS Group lowered shares of Elevate Credit from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Friday, February 22nd.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Elevate Credit by 27.4% during the second quarter. BlackRock Inc. now owns 1,058,585 shares of the company’s stock worth $8,956,000 after buying an additional 227,746 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Elevate Credit in the 2nd quarter valued at $501,000. Renaissance Technologies LLC bought a new position in shares of Elevate Credit in the second quarter valued at about $1,386,000. Northern Trust Corp raised its holdings in shares of Elevate Credit by 21.7% in the second quarter. Northern Trust Corp now owns 206,189 shares of the company’s stock valued at $1,745,000 after buying an additional 36,821 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Elevate Credit in the third quarter valued at about $222,000. 43.83% of the stock is currently owned by institutional investors.
Elevate Credit (NYSE:ELVT) last posted its quarterly earnings results on Monday, February 11th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $207.29 million during the quarter, compared to analyst estimates of $212.42 million. Elevate Credit had a net margin of 1.59% and a return on equity of 15.72%. On average, sell-side analysts forecast that Elevate Credit will post 0.58 EPS for the current year.
Elevate Credit Company Profile
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 and lines of credit. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; and Sunny installment loan products.
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