Maxim Group analyst Michael Diana maintained a Buy rating on Elevate Credit Inc (ELVT) today and set a price target of $10. The company’s shares closed yesterday at $4.38, close to its 52-week low of $3.71.
Diana wrote:
“4Q18 results were above consensus and within guidance for adjusted EBITDA ($31.9M versus consensus of $30.1M and guidance of $31M-$36M), and for EPS ($0.09 versus consensus of $0.08 and guidance of $0.04-$0.13), but below consensus and guidance for revenue ($207.3M versus consensus at $212.1M and guidance of $211M-$216M). The revenue miss was because ELVT slowed down loan originations intentionally until its new credit models are ready (later in 1H19). The inline earnings resulted from stronger margins, as the average customer acquisition cost (CAC) declined.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.1% and a 59.4% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Westamerica Bancorporation, and Pennantpark Floating Rate.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Elevate Credit Inc with a $7.33 average price target.
See today’s analyst top recommended stocks >>
Based on Elevate Credit Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.23 million. In comparison, last year the company had a GAAP net loss of $12.19 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ELVT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Elevate Credit, Inc. engages in providing online credit products for non-prime consumers. It offers online credit solutions to consumers in the U.S. and the United Kingdom who are not well-served by traditional bank products and who are looking for options than payday loans, title loans, pawn, and storefront installment loans.
