Elevate Credit (NYSE: ELVT) raised to “hold” at Zacks Investment Research
According to Zacks, âElevate Credit, Inc. provides online credit solutions to unprivileged consumers. The company offers installment loans and lines of credit online. Its products include credit building, financial wellness programs, credit reports, free credit monitoring, and online financial services. literacy videos and tools. Elevate Credit, Inc. is based in Forth Worth, United States. “
Separately, TheStreet reduced shares of Elevate Credit from a âc-â rating to a âdâ rating in a research report released on Thursday, November 4.
NYSE ELVT opened at $ 3.07 on Wednesday. Elevate Credit has a one-year minimum of $ 2.54 and a one-year maximum of $ 4.90. The company has a fifty-day simple moving average of $ 3.26. The company has a market cap of $ 99.99 million, a price-to-earnings ratio of -17.05 and a beta of 2.33.
Elevate Credit (NYSE: ELVT) last released its quarterly results on Tuesday, November 2. The company reported ($ 0.28) earnings per share for the quarter, missing Zacks’ consensus estimate of ($ 0.24) by ($ 0.04). Elevate Credit recorded a positive return on equity of 5.82% and a negative net margin of 1.45%. The company posted revenue of $ 112.84 million for the quarter, compared to analysts’ estimates of $ 93.96 million. During the same period last year, the company made a profit of $ 0.42 per share. As a group, analysts expect Elevate Credit to post -0.45 EPS for the current fiscal year.
Several hedge funds and other institutional investors recently changed their holdings to ELVT. Stokes Family Office LLC purchased a new position in Elevate Credit in the third quarter valued at approximately $ 48,000. Royal Bank of Canada acquired a new equity interest in Elevate Credit during the 3rd quarter valued at approximately $ 48,000. Two Sigma Securities LLC acquired a new stake in Elevate Credit in the third quarter valued at approximately $ 49,000. Ritholtz Wealth Management purchased a new stake in Elevate Credit in the third quarter valued at $ 62,000. Finally, Marshall Wace LLP purchased a new stake in the shares of Elevate Credit during the second quarter for a value of approximately $ 131,000. Institutional investors and hedge funds hold 37.07% of the company’s shares.
About Elevate Credit
Elevate Credit, Inc. is committed to providing online financial services to consumers of subprime credit. It offers online credit solutions to consumers in the US and UK who are not well served by traditional banking products and are looking for options other than payday loans, title loans, pledges and installment loans in the window.
Read more: Exercise price
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in Elevate credit now?
Before you consider Elevate Credit, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold ofâ¦ and Elevate Credit was not on the list.
While Elevate Credit currently has a âBuyâ rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here