Elevate Credit (ELVT) Given New $8.00 Price Target at Credit Suisse Group

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Elevate Credit (NYSE:ELVT) had its price objective cut by Credit Suisse Group from $10.50 to $8.00 in a report published on Tuesday. They currently have an outperform rating on the stock.

ELVT has been the subject of a number of other research reports. ValuEngine lowered Elevate Credit from a buy rating to a hold rating in a research note on Tuesday, October 2nd. Stephens set a $9.00 price objective on Elevate Credit and gave the stock a hold rating in a research note on Tuesday, July 31st. JMP Securities upped their price objective on Elevate Credit from $10.00 to $12.50 and gave the stock a market outperform rating in a research note on Thursday, July 12th. Zacks Investment Research lowered Elevate Credit from a strong-buy rating to a hold rating in a research note on Friday, July 20th. Finally, Maxim Group upped their price objective on Elevate Credit from $10.00 to $13.00 and gave the stock a buy rating in a research note on Tuesday, July 10th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $10.00.

NYSE:ELVT opened at $3.76 on Tuesday. Elevate Credit has a 52-week low of $3.73 and a 52-week high of $11.27. The stock has a market cap of $281.61 million, a price-to-earnings ratio of 23.48 and a beta of 0.98.

Elevate Credit (NYSE:ELVT) last released its quarterly earnings results on Monday, October 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.23). Elevate Credit had a negative net margin of 0.49% and a positive return on equity of 12.82%. The company had revenue of $201.48 million for the quarter, compared to the consensus estimate of $201.71 million. During the same period in the prior year, the firm posted $0.01 EPS. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities research analysts expect that Elevate Credit will post 0.69 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ingalls & Snyder LLC purchased a new stake in shares of Elevate Credit in the second quarter worth about $134,000. Schwab Charles Investment Management Inc. lifted its position in shares of Elevate Credit by 45.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 35,400 shares of the company’s stock worth $251,000 after buying an additional 11,000 shares in the last quarter. Osborn Williams & Donohoe LLC lifted its position in shares of Elevate Credit by 23.7% in the third quarter. Osborn Williams & Donohoe LLC now owns 261,000 shares of the company’s stock worth $2,104,000 after buying an additional 50,000 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Elevate Credit by 31.1% in the second quarter. GSA Capital Partners LLP now owns 107,372 shares of the company’s stock worth $908,000 after buying an additional 25,472 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Elevate Credit by 5.7% in the first quarter. BlackRock Inc. now owns 830,839 shares of the company’s stock worth $5,883,000 after buying an additional 44,744 shares in the last quarter. 45.98% of the stock is owned by hedge funds and other institutional investors.

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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