Elevate Credit Inc (NYSE:ELVT) shares hit a new 52-week low during mid-day trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $3.82 and last traded at $3.87, with a volume of 103228 shares traded. The stock had previously closed at $6.35.
The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.23). The company had revenue of $201.48 million during the quarter, compared to analyst estimates of $201.71 million. Elevate Credit had a net margin of 0.14% and a return on equity of 12.68%. Elevate Credit’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS.
A number of analysts recently issued reports on ELVT shares. Zacks Investment Research raised Elevate Credit from a “hold” rating to a “strong-buy” rating and set a $9.75 target price on the stock in a research report on Monday, July 2nd. ValuEngine raised Elevate Credit from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Maxim Group lifted their target price on Elevate Credit from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. JMP Securities lifted their target price on Elevate Credit from $10.00 to $12.50 and gave the company a “market outperform” rating in a research report on Thursday, July 12th. Finally, Stephens set a $9.00 target price on Elevate Credit and gave the company a “hold” rating in a research report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $10.42.
The stock has a market capitalization of $281.61 million, a price-to-earnings ratio of 23.69 and a beta of 1.00.
Elevate Credit Company Profile (NYSE:ELVT)
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 and lines of credit. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; and Sunny installment loan products.
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