Wall Street Zen Downgrades OppFi (NYSE:OPFI) to Buy

Key Points

• Wall Street Zen downgraded OppFi from “strong buy” to “buy,” while the broader analyst consensus remains “hold” with an average price target of $13.00.
• OppFi shares opened at $9.40, with a market capitalization of approximately $802.9 million and a 52-week trading range of $7.36 to $12.45.
• The company exceeded quarterly EPS expectations, reporting $0.35 versus the $0.33 consensus estimate, although revenue of $87.3 million fell well short of the $151.14 million estimate.

OppFi (NYSE:OPFI - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also recently issued reports on OPFI. Citigroup reaffirmed a "market outperform" rating on shares of OppFi in a report on Friday, June 26th. Weiss Ratings upgraded shares of OppFi from a "sell (d+)" rating to a "hold (c)" rating in a research report on Tuesday, May 12th. Zacks Research cut shares of OppFi from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Stephens boosted their target price on shares of OppFi from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Finally, Citizens Jmp reduced their target price on shares of OppFi from $16.00 to $15.00 and set a "market outperform" rating on the stock in a research report on Friday, April 17th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $13.00.

OppFi Price Performance

OPFI stock opened at $9.40 on Friday. The business has a fifty day moving average price of $9.09 and a 200 day moving average price of $8.90. OppFi has a fifty-two week low of $7.36 and a fifty-two week high of $12.45. The stock has a market capitalization of $802.92 million, a price-to-earnings ratio of 10.11 and a beta of 1.77.

OppFi (NYSE:OPFI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The company had revenue of $87.30 million for the quarter, compared to analyst estimates of $151.14 million. OppFi had a return on equity of 39.90% and a net margin of 10.86%. On average, equities analysts expect that OppFi will post 1.8 earnings per share for the current fiscal year.

Insider Activity at OppFi

In other news, Director Christina M. Favilla sold 30,000 shares of the business's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $8.14, for a total transaction of $244,200.00. Following the completion of the sale, the director owned 156,737 shares in the company, valued at $1,275,839.18. The trade was a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 70.20% of the company's stock.

Hedge Funds Weigh In On OppFi

Several hedge funds have recently added to or reduced their stakes in OPFI. Arrowstreet Capital Limited Partnership boosted its stake in shares of OppFi by 208.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 211,667 shares of the company's stock valued at $1,632,000 after purchasing an additional 142,971 shares during the last quarter. Kestra Advisory Services LLC raised its stake in shares of OppFi by 53.0% during the first quarter. Kestra Advisory Services LLC now owns 176,047 shares of the company's stock worth $1,357,000 after buying an additional 61,013 shares during the last quarter. State of Wyoming raised its stake in shares of OppFi by 7.9% during the first quarter. State of Wyoming now owns 42,739 shares of the company's stock worth $330,000 after buying an additional 3,139 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in OppFi in the first quarter valued at approximately $386,000. Finally, R Squared Ltd lifted its holdings in OppFi by 10.5% in the first quarter. R Squared Ltd now owns 21,684 shares of the company's stock valued at $167,000 after buying an additional 2,053 shares during the period. Institutional investors own 7.10% of the company's stock.

About OppFi

OppFi NYSE: OPFI is a financial technology company that provides digital lending and credit solutions designed to meet the needs of near-prime consumers in the United States. Through its technology-driven platform, OppFi offers unsecured installment loans under the OppLoans brand, allowing borrowers to access credit online or via mobile devices. The company leverages proprietary data analytics and machine learning models to assess credit risk, streamline underwriting processes and deliver personalized loan products with transparent terms.

Headquartered in Chicago, Illinois, OppFi was founded in 2013 with a mission to increase financial inclusion for underserved and underbanked populations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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