Brokerages expect Elevate Credit (NYSE:ELVT) to post sales of $188.98 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Elevate Credit’s earnings. The lowest sales estimate is $185.95 million and the highest is $192.00 million. Elevate Credit posted sales of $156.37 million in the same quarter last year, which suggests a positive year over year growth rate of 20.9%. The firm is expected to issue its next quarterly earnings results after the market closes on Monday, April 30th.

On average, analysts expect that Elevate Credit will report full year sales of $801.48 million for the current fiscal year, with estimates ranging from $799.86 million to $803.10 million. For the next year, analysts anticipate that the company will report sales of $924.69 million per share, with estimates ranging from $920.57 million to $928.80 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Elevate Credit.

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Elevate Credit (NYSE:ELVT) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.14). Elevate Credit had a positive return on equity of 6.84% and a negative net margin of 1.03%. The business had revenue of $193.44 million during the quarter, compared to the consensus estimate of $194.10 million. The company’s revenue was up 14.5% compared to the same quarter last year.

Several research analysts have weighed in on ELVT shares. Maxim Group decreased their price target on shares of Elevate Credit from $10.00 to $8.50 and set a “buy” rating on the stock in a research report on Monday, February 12th. Zacks Investment Research upgraded shares of Elevate Credit from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research report on Monday, February 5th. UBS started coverage on shares of Elevate Credit in a research report on Tuesday, March 27th. They set a “buy” rating and a $10.50 price objective on the stock. Finally, BTIG Research downgraded shares of Elevate Credit from a “buy” rating to a “neutral” rating in a research report on Friday, February 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.18.

ELVT opened at $7.50 on Friday. Elevate Credit has a 1-year low of $5.90 and a 1-year high of $9.48. The company has a market capitalization of $312.27 and a price-to-earnings ratio of 46.63.

In other news, COO Jason Harvison sold 8,476 shares of the firm’s stock in a transaction on Monday, April 9th. The shares were sold at an average price of $7.50, for a total transaction of $63,570.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 32.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new position in Elevate Credit during the fourth quarter valued at $102,000. Jane Street Group LLC purchased a new position in Elevate Credit during the fourth quarter valued at $113,000. Wells Fargo & Company MN grew its stake in Elevate Credit by 1,839.5% during the fourth quarter. Wells Fargo & Company MN now owns 19,473 shares of the company’s stock valued at $147,000 after acquiring an additional 18,469 shares in the last quarter. California State Teachers Retirement System purchased a new position in Elevate Credit during the second quarter valued at $202,000. Finally, Cornerstone Capital Management Holdings LLC. grew its stake in Elevate Credit by 203.2% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 38,200 shares of the company’s stock valued at $233,000 after acquiring an additional 25,600 shares in the last quarter. 42.25% of the stock is owned by institutional investors.

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About Elevate Credit

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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Earnings History and Estimates for Elevate Credit (NYSE:ELVT)

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