OppFi (NYSE:OPFI) Issues Earnings Results

Key Points

• OppFi exceeded earnings expectations, reporting quarterly EPS of $0.37 versus the $0.34 analyst consensus. However, revenue of $92.75 million fell well short of the $152.79 million estimate.
• Shares rose $0.36 to $5.81, but remain near the lower end of their 12-month range and below both the 50-day and 200-day moving averages.
• Analyst sentiment is cautious, with an average rating of “Hold” from six analysts and an average price target of $10.50. Insiders own 70.2% of the company, with recent insider purchases slightly exceeding sales by share count.

OppFi (NYSE:OPFI - Get Free Report) announced its earnings results on Tuesday. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.03, FiscalAI reports. The company had revenue of $92.75 million for the quarter, compared to the consensus estimate of $152.79 million.

OppFi Price Performance

OPFI stock traded up $0.36 on Wednesday, reaching $5.81. 332,594 shares of the company were exchanged, compared to its average volume of 677,849. The firm has a market capitalization of $495.14 million, a PE ratio of 3.06 and a beta of 1.78. OppFi has a 12 month low of $5.36 and a 12 month high of $11.69. The stock's fifty day moving average price is $6.52 and its 200 day moving average price is $8.30.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OPFI. Weiss Ratings restated a "hold (c)" rating on shares of OppFi in a research note on Friday, August 7th. Zacks Research raised shares of OppFi from a "strong sell" rating to a "hold" rating in a report on Monday, October 12th. Stephens lowered their target price on shares of OppFi from $11.00 to $9.50 and set an "equal weight" rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of OppFi from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Finally, UBS Group set a $11.00 target price on shares of OppFi in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $10.50.

Insider Buying and Selling at OppFi

In related news, CEO Todd Schwartz purchased 3,300 shares of the firm's stock in a transaction on Friday, September 11th. The shares were bought at an average cost of $7.96 per share, for a total transaction of $26,268.00. Following the transaction, the chief executive officer directly owned 639,958 shares of the company's stock, valued at approximately $5,094,065.68. This trade represents a 0.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Pamela Johnson sold 8,650 shares of the business's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $8.02, for a total transaction of $69,373.00. Following the transaction, the chief financial officer owned 151,039 shares in the company, valued at approximately $1,211,332.78. The trade was a 5.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders purchased 130,640 shares of company stock valued at $936,475 and sold 114,985 shares valued at $832,289. Insiders own 70.20% of the company's stock.

OppFi Company Profile

OppFi Inc is a financial technology company that provides access to credit for consumers who may have limited or impaired credit histories. Through its digital platform, the company offers personal installment loans and related financial products designed to provide borrowers with a structured repayment schedule and access to funds for everyday financial needs.

OppFi's primary brand, OppLoans, uses technology and data-driven underwriting to deliver financial services online. The company has also offered products such as the OppFi Card and other credit-building or cash-flow management solutions, subject to availability and applicable regulatory requirements.

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