Wall Street Zen Upgrades OppFi (NYSE:OPFI) to Strong-Buy

Key Points

• Wall Street Zen upgraded OppFi from “buy” to “strong-buy,” adding to a generally positive analyst backdrop. MarketBeat says the stock now carries an average rating of “Moderate Buy” with a consensus target price of $13.00.
• OppFi shares rose 1.7% and opened at $9.02, with the stock trading below its 52-week high of $12.60. The company has a market cap of about $769.8 million and a P/E ratio of 9.69.
• Recent earnings beat expectations, with OppFi reporting EPS of $0.35 versus the $0.33 consensus estimate. However, revenue came in below forecasts at $87.3 million versus the expected $151.14 million.

OppFi (NYSE:OPFI - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings raised OppFi from a "sell (d+)" rating to a "hold (c)" rating in a research report on Tuesday, May 12th. Stephens boosted their price target on shares of OppFi from $9.00 to $11.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Citizens Jmp reduced their price objective on shares of OppFi from $16.00 to $15.00 and set a "market outperform" rating for the company in a research report on Friday, April 17th. Citigroup reaffirmed a "market outperform" rating on shares of OppFi in a report on Friday, June 26th. Finally, Zacks Research upgraded shares of OppFi from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

OppFi Stock Up 1.7%

Shares of NYSE OPFI opened at $9.02 on Friday. OppFi has a 52 week low of $7.36 and a 52 week high of $12.60. The business's 50 day moving average price is $8.84 and its 200 day moving average price is $8.94. The firm has a market cap of $769.79 million, a P/E ratio of 9.69 and a beta of 1.76.

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

Insiders Place Their Bets

In other news, Director David Vennettilli sold 10,000 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the transaction, the director owned 132,389 shares of the company's stock, valued at approximately $1,323,890. The trade was a 7.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christina M. Favilla sold 30,000 shares of the company's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $8.14, for a total transaction of $244,200.00. Following the completion of the sale, the director directly owned 156,737 shares of the company's stock, valued at $1,275,839.18. This represents a 16.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 70.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On OppFi

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in OppFi by 163.2% in the third quarter. JPMorgan Chase & Co. now owns 780,258 shares of the company's stock worth $8,840,000 after acquiring an additional 483,859 shares during the period. Kestra Advisory Services LLC raised its position in OppFi by 53.0% in the first quarter. Kestra Advisory Services LLC now owns 176,047 shares of the company's stock valued at $1,357,000 after purchasing an additional 61,013 shares during the period. Allspring Global Investments Holdings LLC raised its position in OppFi by 11.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 63,304 shares of the company's stock valued at $480,000 after purchasing an additional 6,431 shares during the period. State of Wyoming lifted its stake in shares of OppFi by 7.9% in the 1st quarter. State of Wyoming now owns 42,739 shares of the company's stock valued at $330,000 after purchasing an additional 3,139 shares during the last quarter. Finally, Corsair Capital Management L.P. acquired a new position in shares of OppFi in the 1st quarter valued at $229,000. 7.10% of the stock is owned by hedge funds and other institutional investors.

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.

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