Oportun Financial (NASDAQ:OPRT) Releases FY 2022 Earnings Guidance

Oportun Financial (NASDAQ:OPRTGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.19-$2.25 for the period, compared to the consensus estimate of $1.27. The company issued revenue guidance of $946.00 million-$951.00 million, compared to the consensus revenue estimate of $938.61 million. Oportun Financial also updated its Q4 2022 guidance to $0.24-$0.30 EPS.

Oportun Financial Stock Performance

NASDAQ OPRT opened at $5.98 on Tuesday. Oportun Financial has a 1 year low of $4.03 and a 1 year high of $24.67. The stock’s 50-day moving average price is $4.99 and its two-hundred day moving average price is $7.54.

Oportun Financial (NASDAQ:OPRTGet Rating) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.29) by $0.38. Oportun Financial had a negative net margin of 6.23% and a positive return on equity of 11.52%. The business had revenue of $250.10 million during the quarter, compared to the consensus estimate of $241.89 million. As a group, equities analysts expect that Oportun Financial will post 1.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OPRT. JMP Securities lowered their price target on Oportun Financial from $17.00 to $11.00 and set a market outperform rating on the stock in a report on Friday, August 26th. BTIG Research lowered their target price on Oportun Financial to $21.00 in a research note on Monday, August 15th. Barclays reduced their price target on shares of Oportun Financial from $12.00 to $7.00 and set an overweight rating for the company in a research report on Thursday, October 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Oportun Financial from $9.00 to $6.50 and set an overweight rating on the stock in a research report on Tuesday, October 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of $13.92.

Institutional Investors Weigh In On Oportun Financial

Several institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP raised its position in Oportun Financial by 113.3% during the first quarter. Quantbot Technologies LP now owns 3,200 shares of the company’s stock valued at $45,000 after acquiring an additional 1,700 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Oportun Financial by 44.8% in the 2nd quarter. Legal & General Group Plc now owns 7,468 shares of the company’s stock valued at $61,000 after purchasing an additional 2,310 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Oportun Financial by 36.8% in the third quarter. Tower Research Capital LLC TRC now owns 8,519 shares of the company’s stock worth $38,000 after purchasing an additional 2,291 shares in the last quarter. MetLife Investment Management LLC increased its position in Oportun Financial by 73.6% during the first quarter. MetLife Investment Management LLC now owns 12,860 shares of the company’s stock worth $185,000 after buying an additional 5,453 shares during the last quarter. Finally, American International Group Inc. raised its holdings in Oportun Financial by 23.9% during the second quarter. American International Group Inc. now owns 13,018 shares of the company’s stock valued at $108,000 after buying an additional 2,512 shares in the last quarter. 69.87% of the stock is currently owned by institutional investors and hedge funds.

Oportun Financial Company Profile

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Oportun Financial Corporation provides financial services. It offers personal loans, auto loans, and credit cards. The company serves customers online and over-the-phone, as well as through retail locations. It operates in 24 states in the United States, which include Arkansas, Delaware, Indiana, Kentucky, Mississippi, Montana, North Dakota, New Hampshire, Oregon, South Carolina, South Dakota, and Virginia.

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