Shares of Elevate Credit, Inc. (NYSE:ELVT) have been given an average rating of “Hold” by the six research firms that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $3.00.
ELVT has been the subject of several recent analyst reports. ValuEngine upgraded Elevate Credit from a “sell” rating to a “hold” rating in a research note on Tuesday, December 1st. Zacks Investment Research cut Elevate Credit from a “buy” rating to a “hold” rating in a research note on Monday.
Shares of NYSE:ELVT opened at $4.40 on Thursday. The stock has a fifty day simple moving average of $3.49 and a two-hundred day simple moving average of $2.62. The stock has a market capitalization of $167.51 million, a price-to-earnings ratio of 5.50 and a beta of 2.79. Elevate Credit has a 12-month low of $0.89 and a 12-month high of $5.98.
Elevate Credit (NYSE:ELVT) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.27. The business had revenue of $94.16 million during the quarter, compared to analysts’ expectations of $112.14 million. Elevate Credit had a return on equity of 31.90% and a net margin of 5.73%. Sell-side analysts predict that Elevate Credit will post 1.05 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its position in Elevate Credit by 60.7% during the second quarter. Bank of America Corp DE now owns 16,830 shares of the company’s stock valued at $25,000 after acquiring an additional 6,354 shares during the last quarter. Transcend Wealth Collective LLC purchased a new stake in Elevate Credit during the third quarter valued at $26,000. Morgan Stanley increased its position in Elevate Credit by 42.1% during the third quarter. Morgan Stanley now owns 46,218 shares of the company’s stock valued at $119,000 after acquiring an additional 13,695 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Elevate Credit during the third quarter valued at $58,000. Finally, Goldman Sachs Group Inc. increased its position in Elevate Credit by 34.4% during the second quarter. Goldman Sachs Group Inc. now owns 103,436 shares of the company’s stock valued at $153,000 after acquiring an additional 26,448 shares during the last quarter. Hedge funds and other institutional investors own 28.74% of the company’s stock.
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, an 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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