Elevate Credit, Inc. (ELVT) Upgraded at BidaskClub

BidaskClub upgraded shares of Elevate Credit, Inc. (NYSE:ELVT) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning.

Other analysts have also recently issued research reports about the stock. Stephens started coverage on shares of Elevate Credit in a research note on Wednesday, August 23rd. They issued an equal weight rating and a $8.50 price target for the company. BTIG Research started coverage on shares of Elevate Credit in a research report on Thursday, July 6th. They issued a buy rating and a $12.00 price objective on the stock. Zacks Investment Research raised shares of Elevate Credit from a sell rating to a hold rating in a research report on Tuesday, August 22nd. Finally, Maxim Group started coverage on shares of Elevate Credit in a research report on Wednesday, July 12th. They issued a buy rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Elevate Credit has an average rating of Buy and an average price target of $10.64.

Elevate Credit (NYSE:ELVT) opened at 7.25 on Friday. The company’s market cap is $302.27 million. The company has a 50-day moving average of $6.30 and a 200 day moving average of $7.45. Elevate Credit has a one year low of $5.90 and a one year high of $9.48.

Elevate Credit (NYSE:ELVT) last announced its quarterly earnings results on Monday, July 31st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.13. The firm had revenue of $150.50 million during the quarter, compared to analyst estimates of $157.38 million. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities research analysts predict that Elevate Credit will post $0.35 EPS for the current year.

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In other Elevate Credit news, CFO Christopher Lutes purchased 10,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $7.00 per share, with a total value of $70,000.00. Following the completion of the transaction, the chief financial officer now owns 60,000 shares in the company, valued at $420,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of large investors have recently added to or reduced their stakes in ELVT. Empyrean Capital Partners LP bought a new position in Elevate Credit during the second quarter worth about $20,322,000. Vanguard Group Inc. bought a new position in Elevate Credit in the 2nd quarter valued at about $1,806,000. Northern Trust Corp bought a new position in Elevate Credit in the 2nd quarter valued at about $1,185,000. State Street Corp bought a new position in Elevate Credit in the 2nd quarter valued at about $1,176,000. Finally, TIAA CREF Investment Management LLC bought a new position in Elevate Credit in the 2nd quarter valued at about $533,000. 51.85% of the stock is currently owned by institutional investors and hedge funds.

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)

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