Enova International, Inc. (NYSE:ENVA) has garnered a consensus price target of $111.00 from eight research firms currently covering the company, according to MarketBeat.com. Analysts express a generally positive outlook, with an average recommendation of “Buy.” Among these analysts, one has rated the stock as a hold, six have issued buy recommendations, and one has given a strong buy rating.
Several investment firms have recently revised their price targets for Enova International. JMP Securities raised its price objective from $135.00 to $149.00 while maintaining a “market outperform” rating in a report released on Friday. Conversely, Zacks Research downgraded Enova from a “strong buy” to a “hold” rating on September 25, 2023. Additionally, BTIG Research increased its price target from $129.00 to $144.00 and rated the stock as a “buy.” Meanwhile, Weiss Ratings reaffirmed its “buy (B-)” rating on October 8, 2023.
Institutional Investors Take Notice
Recent activity among institutional investors indicates growing interest in Enova International. The California State Teachers Retirement System increased its holdings by 0.4% in the second quarter, now owning 24,268 shares valued at approximately $2.7 million. Similarly, J.Safra Asset Management Corp raised its stake by 6.5%, acquiring a total of 3,784 shares valued at around $365,000.
Other notable changes include the Police & Firemen’s Retirement System of New Jersey, which boosted its holdings by 6.1% to 5,754 shares worth $642,000, and EverSource Wealth Advisors LLC, which increased its stake by an impressive 350.0%, now holding 450 shares valued at $50,000. Overall, institutional and hedge fund investors own approximately 89.43% of Enova’s stock.
Stock Performance and Earnings Report
As of October 23, 2023, Enova International’s stock opened at $124.91. The company has experienced a 12-month low of $79.41 and a high of $130.34. It boasts a market capitalization of $3.12 billion and a price-to-earnings (P/E) ratio of 11.48.
In its most recent earnings report, Enova posted $3.36 earnings per share (EPS), exceeding analyst expectations of $3.03 by $0.33. The company reported revenue of $802.68 million for the quarter, slightly below analysts’ estimates of $806.63 million but reflecting a 16.3% increase compared to the same period last year. Analysts anticipate that Enova will report an EPS of $10.31 for the current year.
Enova International specializes in providing online financial services, including installment loans and credit lines, operating in the United States, Brazil, and other international markets. The firm continues to attract the attention of analysts and investors alike, reflecting its growing prominence in the financial services sector.
