Maxim Group Lowers Elevate Credit (ELVT) Price Target to $8.50

Elevate Credit (NYSE:ELVT) had its target price decreased by research analysts at Maxim Group from $10.00 to $8.50 in a report released on Monday. The brokerage presently has a “buy” rating on the stock. Maxim Group’s target price would indicate a potential upside of 16.44% from the company’s previous close.

A number of other research firms have also weighed in on ELVT. Zacks Investment Research upgraded Elevate Credit from a “sell” rating to a “hold” rating in a research report on Monday, January 1st. Credit Suisse Group decreased their price target on Elevate Credit from $11.00 to $10.50 and set an “outperform” rating for the company in a research report on Thursday, November 16th. BTIG Research lowered Elevate Credit from a “buy” rating to a “neutral” rating in a research report on Friday, February 9th. Finally, JMP Securities initiated coverage on Elevate Credit in a research report on Tuesday, December 12th. They issued an “outperform” rating and a $10.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.14.

Elevate Credit (ELVT) opened at $7.30 on Monday. Elevate Credit has a 1 year low of $5.90 and a 1 year high of $9.48. The firm has a market capitalization of $282.14 and a price-to-earnings ratio of -52.14.

Elevate Credit (NYSE:ELVT) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.14). Elevate Credit had a negative net margin of 1.03% and a positive return on equity of 7.30%. The company had revenue of $193.44 million during the quarter, compared to analyst estimates of $194.10 million. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. equities research analysts expect that Elevate Credit will post 1.02 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Prescott Group Capital Management L.L.C. purchased a new stake in Elevate Credit in the 4th quarter worth about $1,847,000. Vanguard Group Inc. purchased a new stake in Elevate Credit in the 2nd quarter worth about $1,806,000. Northern Trust Corp purchased a new stake in Elevate Credit in the 2nd quarter worth about $1,185,000. State Street Corp purchased a new stake in Elevate Credit in the 2nd quarter worth about $1,176,000. Finally, Paragon Wealth Strategies LLC lifted its stake in Elevate Credit by 1,074.5% in the 4th quarter. Paragon Wealth Strategies LLC now owns 135,062 shares of the company’s stock worth $1,017,000 after acquiring an additional 123,562 shares in the last quarter. 52.77% of the stock is owned by hedge funds and other institutional investors.

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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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