Jefferies Financial Group Issues Pessimistic Forecast for Enova International (NYSE:ENVA) Stock Price

Key Points

• Jefferies lowered Enova International’s price target from $300 to $275 while maintaining a “buy” rating, implying approximately 50.4% upside from the prior close.
• Analyst sentiment remains positive overall, with eight Buy ratings and one Hold rating; MarketBeat reports a “Moderate Buy” consensus and an average price target of $230.83.
• Enova’s latest quarterly results exceeded expectations, with EPS of $4.31 versus the $3.99 estimate and revenue of $928.93 million, up 21.6% year over year. Shares traded near $182.80, while company insiders have recently sold stock.

Enova International (NYSE:ENVA - Get Free Report) had its target price reduced by Jefferies Financial Group from $300.00 to $275.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the credit services provider's stock. Jefferies Financial Group's target price would suggest a potential upside of 50.44% from the stock's previous close.

A number of other brokerages also recently issued reports on ENVA. Zacks Research downgraded Enova International from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 16th. Citigroup restated a "market outperform" rating on shares of Enova International in a research note on Tuesday, September 15th. Weiss Ratings restated a "buy (b-)" rating on shares of Enova International in a research note on Friday, July 17th. Citizens Jmp dropped their target price on Enova International from $270.00 to $215.00 and set a "market outperform" rating on the stock in a research report on Tuesday, September 15th. Finally, Wall Street Zen downgraded Enova International from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 22nd. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Enova International currently has a consensus rating of "Moderate Buy" and a consensus price target of $230.83.

Enova International Trading Down 0.0%

Shares of NYSE ENVA traded down $0.08 during midday trading on Wednesday, reaching $182.80. The stock had a trading volume of 160,962 shares, compared to its average volume of 321,125. Enova International has a twelve month low of $103.02 and a twelve month high of $267.45. The company has a debt-to-equity ratio of 3.35, a quick ratio of 18.42 and a current ratio of 18.42. The company's 50 day moving average price is $221.26 and its 200 day moving average price is $195.76. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 13.56 and a beta of 1.28.

Enova International (NYSE:ENVA - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $4.31 EPS for the quarter, topping analysts' consensus estimates of $3.99 by $0.32. The business had revenue of $928.93 million during the quarter, compared to analysts' expectations of $909.61 million. Enova International had a net margin of 10.31% and a return on equity of 26.66%. The business's quarterly revenue was up 21.6% on a year-over-year basis. During the same period last year, the company posted $3.23 earnings per share. As a group, sell-side analysts expect that Enova International will post 16.33 EPS for the current year.

Insiders Place Their Bets

In other Enova International news, Chairman David Fisher sold 20,750 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $178.24, for a total value of $3,698,480.00. Following the completion of the sale, the chairman owned 306,444 shares in the company, valued at approximately $54,620,578.56. This trade represents a 6.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 39,319 shares of company stock worth $8,185,473. Corporate insiders own 8.40% of the company's stock.

Institutional Investors Weigh In On Enova International

Several hedge funds have recently bought and sold shares of ENVA. McIlrath & Eck LLC purchased a new position in Enova International in the 1st quarter worth about $34,000. Integrated Wealth Concepts LLC bought a new stake in Enova International during the 2nd quarter valued at approximately $52,000. Pacer Advisors Inc. lifted its holdings in shares of Enova International by 58.5% in the first quarter. Pacer Advisors Inc. now owns 412 shares of the credit services provider's stock worth $56,000 after buying an additional 152 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Enova International by 1,503.3% in the first quarter. Parallel Advisors LLC now owns 481 shares of the credit services provider's stock worth $65,000 after buying an additional 451 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Enova International during the 2nd quarter valued at approximately $116,000. Institutional investors own 89.43% of the company's stock.

About Enova International

Enova International, Inc is a technology-driven financial services company that provides online credit products to consumers and small businesses. The company uses data analytics, automated decision-making and digital platforms to evaluate applications, originate loans and manage customer accounts.

Enova's consumer finance business offers products such as installment loans and lines of credit through brands including CashNetUSA and NetCredit. Its small-business finance operations provide term loans and lines of credit through the OnDeck platform, which Enova acquired in 2020.

Founded in 2004 and headquartered in Chicago, Illinois, Enova serves customers primarily in the United States, as well as selected international markets, including the United Kingdom and Australia.

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