Credit Suisse analyst Moshe Orenbuch maintained a Buy rating on Elevate Credit (ELVT) on July 9 and set a price target of $4.00. The company’s shares closed last Tuesday at $1.73, close to its 52-week low of $0.89.
According to TipRanks.com, Orenbuch is a 5-star analyst with an average return of 8.3% and a 64.6% success rate. Orenbuch covers the Financial sector, focusing on stocks such as Discover Financial Services, Santander Consumer USA, and Capital One Financial.
Elevate Credit has an analyst consensus of Moderate Buy, with a price target consensus of $3.00.
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Based on Elevate Credit’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $177 million and GAAP net loss of $4.91 million. In comparison, last year the company earned revenue of $190 million and had a net profit of $13.36 million.
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Elevate Credit, Inc. engages in provision of online financial services for subprime credit 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. The company was founded on January 31, 2014 and is headquartered in Fort Worth, TX.
