Maxim Group Cuts Elevate Credit (NYSE:ELVT) Price Target to $8.50

Elevate Credit (NYSE:ELVT) had its price target lowered by equities research analysts at Maxim Group from $10.00 to $8.50 in a report released on Monday, February 12th. The brokerage presently has a “buy” rating on the stock. Maxim Group’s target price would indicate a potential upside of 16.60% from the stock’s current price.

Other research analysts have also issued research reports about the company. BTIG Research lowered Elevate Credit from a “buy” rating to a “neutral” rating in a report on Friday, February 9th. Zacks Investment Research lowered Elevate Credit from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JMP Securities began coverage on Elevate Credit in a report on Tuesday, December 12th. They issued an “outperform” rating and a $10.00 target price on the stock. Finally, Credit Suisse Group reduced their price objective on Elevate Credit from $11.00 to $10.50 and set an “outperform” rating on the stock in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.14.

Shares of Elevate Credit (ELVT) opened at $7.29 on Monday. Elevate Credit has a 52 week low of $5.90 and a 52 week high of $9.48. The company has a market capitalization of $305.16 and a P/E ratio of 48.60.

Elevate Credit (NYSE:ELVT) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.14). Elevate Credit had a positive return on equity of 7.30% and a negative net margin of 1.03%. The company had revenue of $193.44 million for the quarter, compared to analysts’ expectations of $194.10 million. The business’s revenue was up 14.5% compared to the same quarter last year. analysts forecast that Elevate Credit will post 0.86 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELVT. Prescott Group Capital Management L.L.C. purchased a new position in Elevate Credit during the fourth quarter worth about $1,847,000. Vanguard Group Inc. purchased a new position in Elevate Credit during the second quarter worth about $1,806,000. Northern Trust Corp purchased a new position in Elevate Credit during the second quarter worth about $1,185,000. State Street Corp purchased a new position in Elevate Credit during the second quarter worth about $1,176,000. Finally, Paragon Wealth Strategies LLC lifted its position in Elevate Credit by 1,074.5% during the fourth quarter. Paragon Wealth Strategies LLC now owns 135,062 shares of the company’s stock worth $1,017,000 after buying an additional 123,562 shares during the period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

WARNING: This report was first reported by Week Herald and is the property of of Week Herald. If you are viewing this report on another website, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this report can be accessed at https://weekherald.com/2018/02/20/elevate-credit-elvt-price-target-cut-to-8-50-by-analysts-at-maxim-group.html.

Elevate Credit Company Profile

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.

Analyst Recommendations for Elevate Credit (NYSE:ELVT)

Receive News & Ratings for Elevate Credit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevate Credit and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply