Enova International (NYSE:ENVA) Shares Up 4.8% on Analyst Upgrade

Key Points

• Enova International shares rose about 4.8% after TD Cowen raised its price target from $220 to $224 while maintaining a Buy rating.
• Analyst sentiment remains broadly positive, with eight Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $235.67.
• Enova reported quarterly EPS of $4.48, beating estimates, while revenue increased 25.7% year over year to $1.01 billion; however, insiders have sold approximately $8.2 million of stock over the past 90 days.

Enova International, Inc. (NYSE:ENVA - Get Free Report)'s share price shot up 4.8% during mid-day trading on Monday after TD Cowen raised their price target on the stock from $220.00 to $224.00. TD Cowen currently has a buy rating on the stock. Enova International traded as high as $170.89 and last traded at $173.0580. Approximately 15,391 shares were traded during trading, a decline of 95% from the average session volume of 322,128 shares. The stock had previously closed at $165.07.

Other analysts have also recently issued research reports about the stock. BTIG Research raised their target price on shares of Enova International from $199.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Citigroup reissued a "market outperform" rating on shares of Enova International in a report on Friday. Stephens raised their price objective on shares of Enova International from $215.00 to $225.00 and gave the stock an "overweight" rating in a research report on Friday. Jefferies Financial Group reduced their price objective on Enova International from $300.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, October 7th. Finally, Zacks Research downgraded Enova International from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 16th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.67.

Insider Transactions at Enova International

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 shares were sold at an average price of $178.24, for a total transaction of $3,698,480.00. Following the transaction, the chairman owned 306,444 shares in the company, valued at $54,620,578.56. This represents a 6.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 39,319 shares of company stock valued at $8,185,473. Insiders own 8.40% of the company's stock.

Institutional Investors Weigh In On Enova International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. USA Financial Formulas acquired a new stake in Enova International during the third quarter worth approximately $30,000. McIlrath & Eck LLC bought a new position in Enova International during the 1st quarter worth $34,000. Integrated Wealth Concepts LLC bought a new position in Enova International during the 2nd quarter worth $52,000. Pacer Advisors Inc. raised its holdings in Enova International by 58.5% in the 1st quarter. Pacer Advisors Inc. now owns 412 shares of the credit services provider's stock valued at $56,000 after acquiring an additional 152 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Enova International by 1,503.3% in the 1st quarter. Parallel Advisors LLC now owns 481 shares of the credit services provider's stock valued at $65,000 after acquiring an additional 451 shares in the last quarter. 89.43% of the stock is currently owned by institutional investors and hedge funds.

Enova International Trading Up 4.9%

The business has a 50-day moving average price of $200.48 and a two-hundred day moving average price of $199.55. The stock has a market capitalization of $4.24 billion, a P/E ratio of 11.94 and a beta of 1.28. The company has a current ratio of 18.92, a quick ratio of 18.91 and a debt-to-equity ratio of 3.43.

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 company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm posted $3.36 EPS. Enova International's quarterly revenue was up 25.7% on a year-over-year basis. On average, analysts expect that Enova International, Inc. will post 16.33 EPS for the current fiscal year.

About Enova International

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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