Oportun Financial (NASDAQ:OPRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm currently has a $22.00 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 8.32% from the company’s previous close.
According to Zacks, “Oportun Financial Corporation is a Community Development Financial Institution providing financial services. It operates primarily in Arizona, California, Florida, Idaho, Illinois, Missouri, Nevada, New Jersey, New Mexico, Texas, Utah and Wisconsin. Oportun Financial Corporation is based in SAN CARLOS, Calif. “
A number of other analysts also recently issued reports on OPRT. Barclays lifted their price target on Oportun Financial from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 25th. BTIG Research raised their price objective on Oportun Financial from $23.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, March 17th. Finally, JPMorgan Chase & Co. raised their price objective on Oportun Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, April 15th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $21.80.
Oportun Financial (NASDAQ:OPRT) last issued its quarterly earnings results on Wednesday, February 17th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.58. The firm had revenue of $140.80 million during the quarter, compared to the consensus estimate of $137.60 million. Oportun Financial had a negative return on equity of 4.66% and a negative net margin of 4.98%. On average, equities research analysts expect that Oportun Financial will post -1.57 EPS for the current year.
In other Oportun Financial news, insider Patrick Kirscht sold 2,500 shares of Oportun Financial stock in a transaction that occurred on Thursday, March 25th. The stock was sold at an average price of $19.75, for a total value of $49,375.00. Following the transaction, the insider now directly owns 143,539 shares of the company’s stock, valued at approximately $2,834,895.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.20% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in OPRT. State Street Corp increased its stake in Oportun Financial by 3.2% in the 3rd quarter. State Street Corp now owns 257,780 shares of the company’s stock worth $3,039,000 after purchasing an additional 7,888 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Oportun Financial by 60.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,399 shares of the company’s stock worth $1,373,000 after purchasing an additional 43,712 shares during the period. Squarepoint Ops LLC increased its stake in Oportun Financial by 158.1% in the 3rd quarter. Squarepoint Ops LLC now owns 29,000 shares of the company’s stock worth $342,000 after purchasing an additional 17,764 shares during the period. Jane Street Group LLC increased its stake in Oportun Financial by 10.4% in the 3rd quarter. Jane Street Group LLC now owns 12,584 shares of the company’s stock worth $148,000 after purchasing an additional 1,190 shares during the period. Finally, US Bancorp DE increased its stake in Oportun Financial by 5.1% in the 4th quarter. US Bancorp DE now owns 23,510 shares of the company’s stock worth $455,000 after purchasing an additional 1,137 shares during the period. 58.73% of the stock is currently owned by institutional investors and hedge funds.
About Oportun Financial
Oportun Financial Corporation provides financial services in the United States. It offers personal loans, auto loans, and credit cards. The company serves customers online and over-the-phone, as well as through retail locations. Oportun Financial Corporation was founded in 2005 and is headquartered in San Carlos, California.
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