Financial technology company Atlanticus Holdings (NASDAQ:ATLC) will be announcing earnings results this Thursday afternoon. Here’s what you need to know.
Atlanticus Holdings beat analysts’ revenue expectations last quarter, reporting revenues of $620.9 million, up 82.5% year on year. It was a strong quarter for the company, with EPS in line with analysts’ estimates.
Is Atlanticus Holdings a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Atlanticus Holdings’s revenue to grow 54% year on year, improving from the 36.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Atlanticus Holdings has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Atlanticus Holdings’s peers in the personal loan segment, some have already reported their Q3 results, giving us a hint as to what we can expect. SoFi delivered year-on-year revenue growth of 44.4%, beating analysts’ expectations by 8.5%, and FirstCash reported revenues up 17.7%, topping estimates by 2.4%. SoFi traded up 18.5% following the results while FirstCash was down 20.3%.
Read our full analysis of SoFi’s results here and FirstCash’s results here.
There has been positive sentiment among investors in the personal loan segment, with share prices up 4.2% on average over the last month. Atlanticus Holdings’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $130.60 (compared to the current share price of $92.50).
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