Elevate Credit Inc (NYSE:ELVT) Receives $6.50 Average Price Target from Analysts

Shares of Elevate Credit Inc (NYSE:ELVT) have received a consensus rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $6.50.

Several research firms recently issued reports on ELVT. Zacks Investment Research lowered Elevate Credit from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. ValuEngine raised Elevate Credit from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BTIG Research reissued a “buy” rating and set a $6.00 target price on shares of Elevate Credit in a research note on Tuesday, July 16th.

In other Elevate Credit news, major shareholder Sequoia Capital Growth Fund Ii sold 68,794 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $4.23, for a total value of $290,998.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kenneth E. Rees sold 15,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $4.37, for a total value of $65,550.00. Insiders sold a total of 364,786 shares of company stock worth $1,561,087 in the last ninety days. 17.00% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC raised its position in shares of Elevate Credit by 98.0% during the 2nd quarter. Acadian Asset Management LLC now owns 145,204 shares of the company’s stock worth $598,000 after acquiring an additional 71,873 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Elevate Credit by 15.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 49,257 shares of the company’s stock worth $203,000 after acquiring an additional 6,484 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Elevate Credit by 30.9% during the 2nd quarter. Renaissance Technologies LLC now owns 799,847 shares of the company’s stock worth $3,295,000 after acquiring an additional 188,747 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Elevate Credit during the 2nd quarter worth about $66,000. Finally, Algert Global LLC acquired a new stake in shares of Elevate Credit during the 2nd quarter worth about $68,000. 47.95% of the stock is currently owned by institutional investors.

ELVT opened at $4.42 on Wednesday. The stock’s 50-day moving average price is $4.32 and its 200 day moving average price is $4.42. Elevate Credit has a 12-month low of $3.71 and a 12-month high of $6.94. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.12. The firm has a market cap of $187.57 million, a price-to-earnings ratio of 11.33 and a beta of 1.34.

Elevate Credit (NYSE:ELVT) last posted its earnings results on Monday, July 29th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.06. Elevate Credit had a return on equity of 19.19% and a net margin of 2.45%. The firm had revenue of $177.76 million for the quarter, compared to analyst estimates of $187.48 million. During the same quarter in the prior year, the company earned $0.07 EPS. Elevate Credit’s revenue was down 3.6% on a year-over-year basis. On average, research analysts forecast that Elevate Credit will post 0.6 earnings per share for the current year.

About Elevate Credit

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, lines of credit, and credit cards. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; Sunny, an installment loan product; and Today Card, a credit card product.

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Analyst Recommendations for Elevate Credit (NYSE:ELVT)

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