Oportun Financial (NASDAQ:OPRT) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Oportun Financial has been upgraded to a "strong-buy" rating by Wall Street Zen, indicating increased confidence in the stock from analysts.
• The company currently has a consensus rating of "Moderate Buy" with a price target of $9.33, reflecting positive sentiment amongst analysts.
• Oportun Financial's shares opened at $5.89, with a recent market capitalization of approximately $258.39 million.

Wall Street Zen upgraded shares of Oportun Financial (NASDAQ:OPRT - Free Report) from a buy rating to a strong-buy rating in a report published on Saturday.

Several other brokerages have also issued reports on OPRT. Sidoti upgraded Oportun Financial to a "hold" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective on Oportun Financial from $7.00 to $8.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Finally, Stephens began coverage on Oportun Financial in a report on Thursday, June 12th. They set an "overweight" rating and a $10.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $9.33.

Oportun Financial Stock Performance

Shares of NASDAQ:OPRT traded up $0.24 during midday trading on Friday, hitting $6.29. The company's stock had a trading volume of 177,895 shares, compared to its average volume of 529,191. The stock has a market capitalization of $276.82 million, a price-to-earnings ratio of -31.45 and a beta of 1.23. The stock's 50 day simple moving average is $6.65 and its 200 day simple moving average is $6.10. Oportun Financial has a fifty-two week low of $2.37 and a fifty-two week high of $9.24.

Institutional Investors Weigh In On Oportun Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new stake in Oportun Financial during the second quarter valued at approximately $97,000. Corsair Capital Management L.P. acquired a new stake in Oportun Financial during the second quarter valued at approximately $72,000. American Century Companies Inc. boosted its holdings in Oportun Financial by 32.6% during the second quarter. American Century Companies Inc. now owns 72,407 shares of the company's stock valued at $518,000 after purchasing an additional 17,788 shares in the last quarter. Heron Bay Capital Management boosted its holdings in Oportun Financial by 58.9% during the second quarter. Heron Bay Capital Management now owns 24,627 shares of the company's stock valued at $176,000 after purchasing an additional 9,127 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in Oportun Financial during the second quarter valued at approximately $348,000. 82.70% of the stock is owned by institutional investors and hedge funds.

About Oportun Financial

Oportun Financial Corporation provides financial services. The company offers personal loans and credit cards. It serves customers through online and over the phone, as well as through retail and Lending as a Service partner locations. The company was founded in 2005 and is headquartered in San Carlos, California.