Oportun Financial (NASDAQ:OPRT – Get Rating) issued an update to its earnings guidance for the fourth quarter of 2022 on Monday morning. The company provided guidance for earnings per share of $0.24 to $0.30 for the period, compared to the consensus estimate for earnings per share of -$0.31. The company issued a revenue guidance of $255.00 to $260.00 million compared to the consensus estimate of $253.51 million. Oportun Financial also updated its guidance for fiscal 2022 to between $2.19 and $2.25 per share.
Opportun Financial Stock Performance
OPRT stock opened at $5.93 on Monday. The company has a 50-day moving average price of $4.98 and a 200-day moving average price of $7.58. Oportun Financial has a 52-week low of $4.03 and a 52-week high of $24.69. The company has a market cap of $196.83 million, a P/E of -3.57 and a beta of 1.72.
Oportun Financial (NASDAQ:OPRT – Get Rating) last issued its earnings results on Monday, November 7th. The company reported earnings per share of $0.09 for the quarter, beating analyst consensus estimates 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 company had revenue of $250.10 million for the quarter, compared to analyst estimates of $241.89 million. On average, equity analysts are forecasting that Oportun Financial will report 1.6 EPS for the year to date.
Wall Street analysts forecast growth
Several research companies have commented on OPRT. JMP Securities lowered its price target on shares of Oportun Financial to $11.00 from $17.00 and issued a research note on Friday, August 26, giving the company an outperform rating. BTIG Research lowered its target price on shares of Oportun Financial to $21.00 in a research note on Monday, August 15. JPMorgan Chase & Co. lowered its price target on shares of Oportun Financial to $6.50 from $9.00 and ranked the company as overweight in a research note on Tuesday, October 18. Finally, Barclays lowered its target price on shares of Oportun Financial to $7.00 from $12.00 and issued a research note on Thursday, October 13, putting an overweight rating on the company. Five research analysts have given the stock a buy rating. Based on data from MarketBeat, Oportun Financial currently has a consensus rating of Buy and an average price target of $13.92.
Institutional Trading by Oportun Financial
Major investors recently changed their positions in the stock. Quantbot Technologies LP increased its stake in Oportun Financial shares by 113.3% in the first quarter. Quantbot Technologies LP now owns 3,200 shares of the company, valued at $45,000, after purchasing an additional 1,700 shares last quarter. Legal & General Group Plc increased its stake in Oportun Financial by 44.8% during the second quarter. Legal & General Group Plc now owns 7,468 shares of the company, valued at $61,000, after purchasing an additional 2,310 shares last quarter. Tower Research Capital LLC TRC increased its ownership of Oportun Financial shares by 36.8% in the third quarter. Tower Research Capital LLC TRC now owns 8,519 shares of the company’s stock valued at $38,000 after purchasing an additional 2,291 shares last quarter. MetLife Investment Management LLC increased its stake in Oportun Financial by 73.6% during the first quarter. MetLife Investment Management LLC now owns 12,860 shares of the company’s stock valued at $185,000 after purchasing an additional 5,453 shares last quarter. Finally, American International Group Inc. increased its stake in Oportun Financial stock 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 acquiring an additional 2,512 shares last quarter. 69.87% of the shares are owned by hedge funds and other institutional investors.
Oportun Financial company profile
Oportun Financial Corporation provides financial services. It offers personal loans, auto loans, and credit cards. The Company serves customers online and by telephone, as well as through retail locations. It operates in 24 states of the United States including Arkansas, Delaware, Indiana, Kentucky, Mississippi, Montana, North Dakota, New Hampshire, Oregon, South Carolina, South Dakota and Virginia.
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