Oportun Financial (NASDAQ:OPRT) Stock Rating Upgraded by JPMorgan Chase & Co.

Oportun Financial (NASDAQ:OPRT) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Monday, Marketbeat Ratings reports. The brokerage currently has a $5.50 target price on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 8.70% from the company’s previous close.

OPRT has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Oportun Financial in a research report on Monday, December 29th. Wall Street Zen raised Oportun Financial from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Zacks Research downgraded Oportun Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.50.

Oportun Financial Price Performance

Shares of NASDAQ:OPRT opened at $5.06 on Monday. Oportun Financial has a 1 year low of $3.62 and a 1 year high of $9.24. The company has a market cap of $223.30 million, a P/E ratio of 7.67 and a beta of 1.21. The stock’s fifty day moving average price is $5.16 and its 200-day moving average price is $5.83.

Oportun Financial (NASDAQ:OPRT) last issued its earnings results on Wednesday, November 5th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.13. The business had revenue of $238.69 million during the quarter, compared to analyst estimates of $238.52 million. Oportun Financial had a return on equity of 17.61% and a net margin of 3.19%. On average, sell-side analysts anticipate that Oportun Financial will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Oportun Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its holdings in Oportun Financial by 28.9% during the first quarter. Millennium Management LLC now owns 1,936,797 shares of the company’s stock valued at $10,633,000 after purchasing an additional 433,827 shares during the period. NewEdge Advisors LLC purchased a new position in shares of Oportun Financial during the 1st quarter valued at about $132,000. Goldman Sachs Group Inc. grew its stake in shares of Oportun Financial by 499.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 313,446 shares of the company’s stock valued at $1,721,000 after acquiring an additional 261,147 shares during the period. Empowered Funds LLC grew its stake in shares of Oportun Financial by 7.5% during the 1st quarter. Empowered Funds LLC now owns 124,980 shares of the company’s stock valued at $686,000 after acquiring an additional 8,752 shares during the period. Finally, Jane Street Group LLC increased its holdings in Oportun Financial by 238.6% in the 1st quarter. Jane Street Group LLC now owns 191,066 shares of the company’s stock worth $1,049,000 after acquiring an additional 134,643 shares in the last quarter. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

Oportun Financial Company Profile

Oportun Financial Corporation (NASDAQ: OPRT) is a financial technology company that provides consumer lending products aimed at serving the underbanked and credit-invisible population in the United States. Headquartered in Redwood City, California, Oportun operates a digital platform that enables borrowers to access credit through unsecured personal installment loans, secured credit-builder loans and a proprietary mobile wallet. The company leverages machine learning and alternative data sources to assess creditworthiness, extending financial services to customers with limited or no traditional credit history.

The company’s core offerings include fixed-term installment loans designed to help individuals cover unexpected expenses, consolidate debt or build credit.