Elevate Credit (ELVT) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Elevate Credit (NYSE:ELVT) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

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. “

ELVT has been the topic of several other research reports. JMP Securities began coverage on shares of Elevate Credit in a report on Tuesday, December 12th. They issued an outperform rating and a $10.00 target price on the stock. BidaskClub upgraded shares of Elevate Credit from a strong sell rating to a sell rating in a report on Saturday, October 7th. Credit Suisse Group dropped their price objective on shares of Elevate Credit from $11.00 to $10.50 and set an outperform rating on the stock in a report on Thursday, November 16th. Finally, Maxim Group restated a buy rating and set a $10.00 price objective on shares of Elevate Credit in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Elevate Credit currently has a consensus rating of Buy and a consensus price target of $10.50.

Shares of Elevate Credit (ELVT) traded up $0.27 on Monday, reaching $8.02. 237,100 shares of the company traded hands, compared to its average volume of 312,800. Elevate Credit has a 12-month low of $5.90 and a 12-month high of $9.48.

Elevate Credit (NYSE:ELVT) last announced its earnings results on Monday, October 30th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $172.80 million for the quarter, compared to the consensus estimate of $175.00 million. Elevate Credit had a net margin of 0.13% and a return on equity of 1.40%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.25) EPS. analysts expect that Elevate Credit will post 0.28 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of ELVT. Rhumbline Advisers bought a new position in shares of Elevate Credit during the 2nd quarter worth about $117,000. New York State Common Retirement Fund bought a new position in shares of Elevate Credit during the 2nd quarter worth about $122,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Elevate Credit during the 3rd quarter valued at about $126,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Elevate Credit during the 2nd quarter valued at about $146,000. Finally, Phoenix Investment Adviser LLC acquired a new stake in shares of Elevate Credit during the 3rd quarter valued at about $147,000. Institutional investors own 52.07% of the company’s stock.

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About Elevate Credit

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.

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