Enova International (NYSE:ENVA) Given New $220.00 Price Target at Maxim Group

Key Points

• Maxim Group lowered Enova International’s price target to $220 from $285 while maintaining a “buy” rating, implying 29.34% upside from the prior close.
• Analyst sentiment remains favorable, with eight Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $239.
• Enova’s latest quarter exceeded expectations, reporting $4.48 in EPS and $1.01 billion in revenue, with year-over-year revenue growth of 25.7%.

Enova International (NYSE:ENVA - Get Free Report) had its price objective dropped by equities research analysts at Maxim Group from $285.00 to $220.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the credit services provider's stock. Maxim Group's price objective suggests a potential upside of 29.34% from the company's previous close.

Several other research firms have also weighed in on ENVA. Citizens Jmp boosted their price target on Enova International from $215.00 to $220.00 and gave the stock a "market outperform" rating in a research report on Friday. TD Cowen increased their price objective on Enova International from $220.00 to $224.00 and gave the company a "buy" rating in a report on Friday. Weiss Ratings reissued a "buy (b-)" rating on shares of Enova International in a research note on Thursday, October 15th. Wall Street Zen downgraded shares of Enova International from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 22nd. Finally, Zacks Research downgraded shares of Enova International from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 16th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $239.00.

Enova International Stock Up 3.0%

Shares of NYSE:ENVA traded up $5.02 during midday trading on Monday, reaching $170.09. The company had a trading volume of 210,221 shares, compared to its average volume of 322,998. The company has a quick ratio of 18.91, a current ratio of 18.92 and a debt-to-equity ratio of 3.43. The business's 50 day moving average price is $200.48 and its 200 day moving average price is $199.55. The stock has a market cap of $4.16 billion, a PE ratio of 11.71 and a beta of 1.28. Enova International has a 1-year low of $117.66 and a 1-year high of $267.45.

Enova International (NYSE:ENVA - Get Free Report) last released its earnings results on Thursday, October 22nd. The credit services provider reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.42 by $0.06. Enova International had a return on equity of 27.25% and a net margin of 10.47%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the company posted $3.36 earnings per share. Enova International's revenue was up 25.7% on a year-over-year basis. Research analysts forecast that Enova International will post 16.33 EPS for the current fiscal year.

Insider Transactions at Enova International

In other Enova International news, Chairman David Fisher sold 20,750 shares of Enova International stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $178.24, for a total transaction of $3,698,480.00. Following the completion of the transaction, the chairman directly owned 306,444 shares of the company's stock, valued at $54,620,578.56. The trade was a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 39,319 shares of company stock worth $8,185,473. Company insiders own 8.40% of the company's stock.

Hedge Funds Weigh In On Enova International

Institutional investors and hedge funds have recently modified their holdings of the stock. Simplicity Wealth LLC bought a new stake in shares of Enova International during the 3rd quarter worth about $283,000. Sowell Financial Services LLC bought a new position in Enova International in the 3rd quarter valued at about $376,000. Kendall Capital Management raised its holdings in Enova International by 0.7% in the 3rd quarter. Kendall Capital Management now owns 13,035 shares of the credit services provider's stock valued at $2,178,000 after acquiring an additional 85 shares during the period. Sterling Capital Management LLC lifted its position in Enova International by 834.9% during the third quarter. Sterling Capital Management LLC now owns 804 shares of the credit services provider's stock worth $134,000 after acquiring an additional 718 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Enova International by 35.5% during the third quarter. Inspire Investing LLC now owns 3,819 shares of the credit services provider's stock worth $638,000 after acquiring an additional 1,001 shares during the last quarter. 89.43% of the stock is currently owned by institutional investors and hedge funds.

Enova International Company Profile

Enova International, Inc is a financial technology company that provides online financial services to consumers and small businesses. Its offerings include consumer installment loans and lines of credit, as well as small-business financing products designed to provide access to working capital. The company serves customers who may have limited access to traditional bank credit and uses data-driven underwriting and technology-enabled platforms in its lending operations.

Enova markets its products through brands including CashNetUSA and NetCredit, which provide consumer financial services, and OnDeck, which focuses on lending to small businesses.

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