Oportun Financial (NASDAQ:OPRT) Sets New 12-Month High After Better-Than-Expected Earnings

Key Points

• Oportun Financial shares reached a new 52-week high after earnings, trading well above the previous close of $10.04.
• The company reported quarterly EPS of $0.51, beating analyst estimates of $0.46, and revenue of $246.28 million, above the $237.87 million consensus.
• Analysts’ consensus rating remained Hold, with an average price target of $7.75, below the share price reported in the article.

Shares of Oportun Financial Corporation (NASDAQ:OPRT - Get Free Report) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $11.52 and last traded at $11.8690, with a volume of 319 shares traded. The stock had previously closed at $10.04.

The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. The business had revenue of $246.28 million for the quarter, compared to analyst estimates of $237.87 million. Oportun Financial had a return on equity of 13.41% and a net margin of 2.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on OPRT shares. Jefferies Financial Group lifted their price objective on shares of Oportun Financial from $6.00 to $9.00 and gave the stock a "hold" rating in a research note on Wednesday, October 7th. Weiss Ratings raised Oportun Financial from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Stephens upped their target price on Oportun Financial from $7.00 to $8.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Oportun Financial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 24th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Oportun Financial presently has an average rating of "Hold" and an average target price of $7.75.

Insider Activity

In related news, insider Kathleen Layton sold 4,223 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $7.80, for a total value of $32,939.40. Following the completion of the sale, the insider 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 7,082 shares of company stock valued at $55,240 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Oportun Financial

Institutional investors have recently added to or reduced their stakes in the stock. CenterBook Partners LP purchased a new stake in Oportun Financial in the third quarter valued at approximately $7,068,000. Commonwealth Equity Services LLC acquired a new position in shares of Oportun Financial during the 3rd quarter worth $93,000. Vise Technologies Inc. purchased a new position in Oportun Financial in the 3rd quarter valued at approximately $110,000. State of Wyoming grew its holdings in Oportun Financial by 46.4% in the third quarter. State of Wyoming now owns 19,400 shares of the company's stock valued at $158,000 after purchasing an additional 6,146 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Oportun Financial during the 2nd quarter worth $112,000. Institutional investors and hedge funds own 82.70% of the company's stock.

Oportun Financial Stock Performance

The company's fifty 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 $581.50 million, a PE ratio of 32.10 and a beta of 1.29.

About Oportun Financial

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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