Stephens Forecasts Strong Price Appreciation for Oportun Financial (NASDAQ:OPRT) Stock

Key Points

• Stephens raised its price target on Oportun Financial to $14 from $12 and maintained an “overweight” rating, implying 11.2% upside from the share price cited in the report.
• Analyst views remain mixed: MarketBeat’s consensus rating is “Hold,” with an average price target of $9.25, below the $12.59 Wednesday closing price.
• Oportun beat quarterly expectations, reporting earnings of $0.51 per share versus $0.46 expected and revenue of $246.28 million versus $237.87 million expected.

Oportun Financial (NASDAQ:OPRT - Get Free Report) had its price objective lifted by equities researchers at Stephens from $12.00 to $14.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Stephens's price target indicates a potential upside of 11.20% from the stock's current price.

Several other analysts also recently commented on OPRT. Jefferies Financial Group raised their price objective on shares of Oportun Financial from $6.00 to $9.00 and gave the company a "hold" rating in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Oportun Financial from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Finally, Wall Street Zen upgraded Oportun Financial from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 24th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $9.25.

Oportun Financial Price Performance

Shares of OPRT traded up $2.55 on Wednesday, reaching $12.59. The company's stock had a trading volume of 2,279,265 shares, compared to its average volume of 561,202. The stock's 50 day simple moving average is $8.48 and its two-hundred day simple moving average is $6.26. The stock has a market capitalization of $579.01 million, a P/E ratio of 31.56 and a beta of 1.29. Oportun Financial has a 12-month low of $4.03 and a 12-month high of $12.98.

Oportun Financial (NASDAQ:OPRT - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. Oportun Financial had a net margin of 2.05% and a return on equity of 13.41%. The business had revenue of $246.28 million for the quarter, compared to the consensus estimate of $237.87 million. Analysts expect that Oportun Financial will post 1.28 earnings per share for the current year.

Insider Buying and Selling at Oportun Financial

In related news, insider Kathleen Layton sold 4,223 shares of the firm's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $7.80, for a total transaction of $32,939.40. Following the completion of the transaction, the insider directly owned 292,006 shares of the company's stock, valued at approximately $2,277,646.80. This trade represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 7,082 shares of company stock worth $55,240 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OPRT. Pinnacle Holdings LLC bought a new stake in shares of Oportun Financial in the 2nd quarter worth about $33,000. Commonwealth Equity Services LLC purchased a new stake in shares of Oportun Financial during the 3rd quarter valued at about $93,000. The Manufacturers Life Insurance Company bought a new position in shares of Oportun Financial in the 2nd quarter valued at about $66,000. Abel Hall LLC bought a new position in shares of Oportun Financial in the 1st quarter valued at about $57,000. Finally, Canada Pension Plan Investment Board purchased a new position in Oportun Financial in the second quarter worth about $74,000. Institutional investors own 82.70% of the company's stock.

Oportun Financial Company Profile

Oportun Financial Corp. is a financial technology company that provides credit products and related financial services to consumers in the United States, with a particular focus on serving Hispanic and other traditionally underserved communities. The company uses data-driven underwriting and digital tools to offer customers access to credit, including borrowers who may have limited credit histories.

Oportun's primary products have included unsecured personal loans and credit cards. Through its digital platform and customer service channels, the company has also provided tools intended to help consumers manage borrowing, make payments and build or strengthen their credit profiles.

Founded in 2005 as Progreso Financiero, the company adopted the Oportun name in 2015 and became a publicly traded company in 2019.

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