Credit Suisse Group Lowers Elevate Credit, Inc. (ELVT) Price Target to $10.50

Elevate Credit, Inc. (NYSE:ELVT) had its target price dropped by investment analysts at Credit Suisse Group from $11.00 to $10.50 in a research note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s target price points to a potential upside of 47.06% from the stock’s previous close.

ELVT has been the topic of a number of other reports. Zacks Investment Research lowered Elevate Credit from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BidaskClub upgraded Elevate Credit from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 7th. Stephens assumed coverage on Elevate Credit in a research note on Wednesday, August 23rd. They issued an “equal weight” rating and a $8.50 target price on the stock. Finally, Maxim Group restated a “buy” rating and issued a $10.00 target price on shares of Elevate Credit in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Elevate Credit presently has an average rating of “Hold” and an average target price of $10.57.

Elevate Credit (NYSE:ELVT) opened at $7.14 on Thursday. 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 earnings results on Monday, October 30th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $172.80 million for the quarter, compared to analyst estimates of $175.00 million. Elevate Credit had a return on equity of 1.40% and a net margin of 0.13%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.25) EPS. equities research analysts anticipate that Elevate Credit will post 0.29 EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in ELVT. Spark Investment Management LLC bought a new position in shares of Elevate Credit during the 2nd quarter valued at about $262,000. Schwab Charles Investment Management Inc. bought a new position in shares of Elevate Credit during the 2nd quarter valued at about $194,000. Rhumbline Advisers bought a new position in shares of Elevate Credit during the 2nd quarter valued at about $117,000. Bank of New York Mellon Corp bought a new position in shares of Elevate Credit during the 2nd quarter valued at about $376,000. Finally, Martingale Asset Management L P bought a new position in shares of Elevate Credit during the 2nd quarter valued at about $377,000. Hedge funds and other institutional investors own 51.81% of the company’s stock.

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.

Analyst Recommendations for Elevate Credit (NYSE:ELVT)

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