Bullish indicating open at $55-$60, IPO prices at $37
CHICAGO—David Fisher, CEO of Enova International, Inc. (NYSE:ENVA), recently sold 5,000 shares of the company’s common stock, valued at approximately $508,768. The shares were sold at an average price of $101.7537, according to a recent SEC filing. The transaction comes as the $2.56 billion market cap company trades at a P/E ratio of 12.8, having delivered impressive revenue growth of nearly 20% over the last twelve months.
The transaction, executed on March 25, was part of Fisher’s pre-established Rule 10b5-1 trading plan. This sale follows Fisher’s exercise of 5,000 stock options at a price of $23.96 each, totaling $119,800. Notably, management has been actively engaging in share buybacks, demonstrating confidence in the company’s value proposition.
Following these transactions, Fisher holds 348,223 shares of Enova International. The company, headquartered in Chicago, operates within the personal credit institutions sector, providing financial services to consumers and small businesses. According to InvestingPro, Enova maintains a "GREAT" financial health score, with 8 additional exclusive insights available to subscribers.
In other recent news, Enova International reported a significant year-over-year increase in adjusted earnings per share for the fourth quarter, reaching $2.61, which marked an over 40% rise. This performance exceeded expectations by 21% and 15% compared to Street estimates, contributing to a 25% year-over-year increase in revenue. Furthermore, Enova announced a private debt offering through its subsidiary, OnDeck Asset Securitization IV, LLC, planning to issue $261.4 million in asset-backed notes, backed by small business loans. This offering is aimed at qualified institutional buyers and is expected to close around March 2025, subject to market conditions.
Analyst firms have reacted to these developments with several adjustments. Stephens raised Enova’s stock price target to $136, maintaining an Overweight rating, reflecting confidence in the company’s strong loan originations and scalable platform. BTIG also increased its price target to $129, sustaining a Buy rating, based on expectations of a 15% yearly growth rate in earnings. Meanwhile, JMP Securities lifted its price target to $135, maintaining a Market Outperform rating, citing Enova’s stable credit performance and effective portfolio management.
TD Cowen reiterated a Hold rating with a $130 target, highlighting Enova’s solid fundamentals despite macroeconomic uncertainties. The firm’s analysts noted Enova’s proactive approach to market conditions, emphasizing its readiness to adjust underwriting criteria if necessary. These recent developments illustrate Enova International’s strong financial health and strategic positioning in a challenging economic landscape.
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