Elevate Credit (NYSE:ELVT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
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. “
Other analysts have also recently issued research reports about the company. UBS Group cut Elevate Credit from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research report on Friday, February 22nd. BTIG Research cut Elevate Credit from a “buy” rating to a “neutral” rating and set a $4.66 price objective for the company. in a research report on Thursday, February 14th. Maxim Group reissued a “buy” rating and issued a $10.00 price objective on shares of Elevate Credit in a research report on Tuesday, February 12th. Finally, Jefferies Financial Group cut Elevate Credit from a “buy” rating to a “hold” rating and lowered their price target for the stock from $9.50 to $5.00 in a research report on Tuesday, January 8th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.65.
Elevate Credit stock opened at $4.24 on Thursday. The firm has a market capitalization of $179.08 million, a PE ratio of 10.87 and a beta of 1.77. Elevate Credit has a 1-year low of $3.71 and a 1-year high of $11.27.
Elevate Credit (NYSE:ELVT) last posted its quarterly earnings data on Monday, February 11th. The company reported $0.09 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.09. The firm had revenue of $207.29 million during the quarter, compared to analysts’ expectations of $212.42 million. Elevate Credit had a return on equity of 15.53% and a net margin of 1.59%. Research analysts expect that Elevate Credit will post 0.58 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Elevate Credit by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 173,812 shares of the company’s stock valued at $778,000 after acquiring an additional 9,877 shares during the last quarter. 683 Capital Management LLC acquired a new position in Elevate Credit in the fourth quarter valued at approximately $4,683,000. Squarepoint Ops LLC lifted its holdings in Elevate Credit by 87.4% in the fourth quarter. Squarepoint Ops LLC now owns 42,172 shares of the company’s stock valued at $189,000 after acquiring an additional 19,672 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Elevate Credit in the fourth quarter valued at approximately $410,000. Finally, Nantahala Capital Management LLC lifted its stake in Elevate Credit by 256.8% during the fourth quarter. Nantahala Capital Management LLC now owns 1,582,364 shares of the company’s stock worth $7,089,000 after purchasing an additional 1,138,873 shares in the last quarter. 48.35% of the stock is owned by institutional investors.
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 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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