Enova International (NYSE:ENVA) Price Target Raised to $224.00

Enova International (NYSE:ENVA) had its price objective boosted by TD Cowen from $220.00 to $224.00 in a report issued on Friday,Benzinga reports. TD Cowen currently has a buy rating on the credit services provider’s stock.

A number of other equities research analysts also recently weighed in on ENVA. Citizens Jmp lifted their price target on shares of Enova International from $215.00 to $220.00 and gave the company a “market outperform” rating in a research report on Friday. Wall Street Zen downgraded Enova International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Jefferies Financial Group reduced their price target on Enova International from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. Zacks Research lowered Enova International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 16th. Finally, Citigroup reiterated a “market outperform” rating on shares of Enova International in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Enova International presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.67.

Enova International Price Performance

Shares of Enova International stock opened at $165.04 on Friday. Enova International has a twelve month low of $115.06 and a twelve month high of $267.45. 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 company has a 50-day simple moving average of $200.48 and a two-hundred day simple moving average of $199.55. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 11.37 and a beta of 1.28.

Enova International (NYSE:ENVA) last posted its quarterly earnings data on Thursday, October 22nd. The credit services provider reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.42 by $0.06. Enova International had a net margin of 10.47% and a return on equity of 27.25%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm posted $3.36 EPS. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. Analysts forecast 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 company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $178.24, for a total transaction of $3,698,480.00. Following the completion of the sale, the chairman directly owned 306,444 shares in the company, valued at $54,620,578.56. This represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 39,319 shares of company stock worth $8,185,473 in the last three months. 8.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enova International

Several hedge funds and other institutional investors have recently modified their holdings of the business. Amundi lifted its position in shares of Enova International by 66.6% during the 2nd quarter. Amundi now owns 207,684 shares of the credit services provider’s stock worth $49,996,000 after buying an additional 83,002 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Enova International in the second quarter valued at about $38,453,000. Tieton Capital Management LLC bought a new position in Enova International in the second quarter valued at about $26,577,000. Alyeska Investment Group L.P. bought a new position in Enova International in the second quarter valued at about $25,749,000. Finally, Assenagon Asset Management S.A. raised its stake in Enova International by 133.4% during the third quarter. Assenagon Asset Management S.A. now owns 72,385 shares of the credit services provider’s stock worth $12,096,000 after acquiring an additional 41,378 shares in the last quarter. Institutional investors own 89.43% of the company’s stock.

Key Stories Impacting Enova International

Here are the key news stories impacting Enova International this week:

• Positive Sentiment: Analysts raised their targets and maintained bullish ratings. TD Cowen increased its target to $224 and assigned a “buy” rating; Citizens JMP raised its target to $220 with a “market outperform” rating; and Stephens lifted its target to $225 with an “overweight” rating. These targets imply roughly 33%–36% potential upside from the referenced share price. TD Cowen recommendation
• Positive Sentiment: Third-quarter results exceeded expectations. Enova reported adjusted EPS of $4.48, above the $4.42 consensus estimate, while revenue reached approximately $1.01 billion versus expectations of $1 billion. Revenue rose 25.7% year over year, and adjusted EPS increased 33% from $3.36 a year earlier. Enova third-quarter results
• Positive Sentiment: Operating growth remained strong. Loan originations climbed 31%, the loan book reached a record level, and the quarter marked the first time quarterly revenue surpassed $1 billion. Management attributed the performance to broad strength across its online-lending portfolio. Enova surpasses $1 billion in quarterly revenue
• Negative Sentiment: The termination of the Grasshopper Bank deal may be weighing on sentiment. The ended bank charter transaction removes a potential strategic benefit and may have prompted investors to reassess Enova’s future banking strategy. Blue Tower analysis of Enova’s Grasshopper Bank deal

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.