Stocks: Jefferies Group Weighs in on Elevate Credit Inc’s FY2017 Earnings (ELVT)

Stocks: Jefferies Group Weighs in on Elevate Credit Inc’s FY2017 Earnings (ELVT)

Elevate Credit Inc (NASDAQ:ELVT) – Equities research analysts at Jefferies Group increased their FY2017 EPS estimates for Elevate Credit in a report released on Wednesday. Jefferies Group analyst J. Hecht now expects that the company will post earnings of $0.42 per share for the year, up from their prior forecast of $0.36. Jefferies Group has a “Buy” rating and a $12.00 price objective on the stock. Jefferies Group also issued estimates for Elevate Credit’s Q4 2017 earnings at $0.26 EPS, Q1 2018 earnings at $0.52 EPS, Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.28 EPS and Q1 2019 earnings at $0.67 EPS.

Elevate Credit (NASDAQ:ELVT) last released its quarterly earnings data on Monday, May 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The firm had revenue of $156.40 million for the quarter, compared to analyst estimates of $155.69 million. Elevate Credit’s revenue for the quarter was up 19.7% compared to the same quarter last year.

A number of other equities analysts also recently commented on the stock. Compass Point restated a “neutral” rating and set a $9.00 price objective on shares of Elevate Credit in a research note on Tuesday, April 18th. William Blair started coverage on shares of Elevate Credit in a research note on Monday, May 1st. They set an “outperform” rating for the company. Stifel Nicolaus started coverage on shares of Elevate Credit in a research note on Monday, May 1st. They set a “buy” rating and a $12.00 price objective for the company. Finally, Credit Suisse Group AG started coverage on shares of Elevate Credit in a research note on Tuesday, May 2nd. They set an “outperform” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $11.00.

Elevate Credit (NASDAQ:ELVT) traded down 0.99% during mid-day trading on Thursday, reaching $8.00. The company had a trading volume of 146,547 shares. The stock’s market cap is $104.01 million. Elevate Credit has a 12 month low of $7.00 and a 12 month high of $8.86. The firm’s 50-day moving average price is $8.01 and its 200-day moving average price is $8.01.

In other news, CFO Christopher Lutes bought 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 11th. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $260,000.00. Following the purchase, the chief financial officer now owns 40,000 shares of the company’s stock, valued at approximately $260,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Crossover Managemen Technology bought 80,000 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The stock was purchased at an average price of $6.50 per share, with a total value of $520,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 127,072 shares of company stock valued at $825,968 over the last quarter.

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.

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