Oportun Financial Corporation (NASDAQ:OPRT) Receives $8.50 Average Target Price from Analysts

Oportun Financial Corporation (NASDAQ:OPRT) has received an average rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $8.50.

OPRT has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Oportun Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Wall Street Zen cut Oportun Financial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Oportun Financial in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. raised Oportun Financial from an “underweight” rating to a “neutral” rating and set a $5.50 price target for the company in a report on Monday, January 12th.

Oportun Financial Price Performance

Shares of NASDAQ OPRT opened at $5.78 on Friday. The business has a fifty day moving average price of $5.27 and a two-hundred day moving average price of $5.71. The stock has a market capitalization of $255.07 million, a PE ratio of 8.76 and a beta of 1.21. Oportun Financial has a fifty-two week low of $3.76 and a fifty-two week high of $9.24.

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

Institutional Investors Weigh In On Oportun Financial

Hedge funds have recently made changes to their positions in the stock. Cannell Capital LLC lifted its stake in Oportun Financial by 7,067.0% in the 2nd quarter. Cannell Capital LLC now owns 1,601,244 shares of the company’s stock valued at $11,465,000 after purchasing an additional 1,578,902 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Oportun Financial by 30.4% during the third quarter. Vanguard Group Inc. now owns 2,106,640 shares of the company’s stock worth $12,998,000 after buying an additional 490,608 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Oportun Financial by 131.6% in the 2nd quarter. Geode Capital Management LLC now owns 776,844 shares of the company’s stock valued at $5,563,000 after acquiring an additional 441,392 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Oportun Financial by 28.9% during the 1st quarter. Millennium Management LLC now owns 1,936,797 shares of the company’s stock valued at $10,633,000 after acquiring an additional 433,827 shares in the last quarter. Finally, CenterBook Partners LP bought a new stake in Oportun Financial during the 2nd quarter worth $2,950,000. 82.70% of the stock is currently owned by institutional investors and hedge funds.

About Oportun Financial

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.