Oportun Financial Inc (NASDAQ:OPRT) Reports Quarterly Results, Beats Estimates by $0.10 EPS
Opportun Financial (NASDAQ:OPRT – Get a rating) released its quarterly earnings data on Thursday. The company reported earnings per share (EPS) of $0.82 for the quarter, beating Thomson Reuters consensus estimate of $0.72 by $0.10, MarketWatch Earnings reports. Oportun Financial had a return on equity of 19.91% and a net margin of 7.27%. The company posted revenue of $194.10 million in the quarter, versus a consensus estimate of $184.52 million. In the same quarter a year earlier, the company posted earnings per share of $0.42. The company’s revenue increased by 37.9% compared to the same quarter last year. Oportun Financial updated its guidance for the first quarter of 2022 to $0.560 – $0.670 EPS and its guidance for the full year 2022 to $2.320 – $2.460 EPS.
Shares of NASDAQ: OPRT opened at $16.65 on Friday. The company has a market capitalization of $472.66 million, a price-earnings ratio of 12.07 and a beta of 1.26. The stock’s 50-day moving average is $18.78 and its 200-day moving average is $22.18. Oportun Financial has a 12-month low of $15.94 and a 12-month high of $27.95.
Several research analysts have recently published reports on the actions of the OPRT. Zacks Investment Research upgraded Oportun Financial from a “hold” rating to a “buy” rating and set a price target of $22.00 for the company in a research note on Saturday, January 22. JMP Securities raised its price target on Oportun Financial from $26.00 to $30.00 and gave the company a “market outperforming” rating in a Monday, Nov. 8 research note. JPMorgan Chase & Co. upgraded Oportun Financial from a “neutral” rating to an “overweight” rating and reduced its target price for the company from $27.00 to $23.00 in a Wednesday, January 19 report. Finally, Barclays cut its price target on Oportun Financial from $28.00 to $27.00 and set an “overweight” rating on the stock in a Monday, January 10 report. Five research analysts have rated the stock with a buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $25.80.
A number of hedge funds and other institutional investors have recently increased or reduced their stake in the OPRT. Legal & General Group Plc raised its position in Oportun Financial by 200.8% in the 4th quarter. Legal & General Group Plc now owns 5,158 shares in the company valued at $104,000 after buying an additional 3,443 shares in the last quarter. Citigroup Inc. increased its position in Oportun Financial by 224.4% in the fourth quarter. Citigroup Inc. now owns 7,433 shares of the company valued at $151,000 after purchasing an additional 5,142 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in Oportun Financial in Q4 valued at $217,000. Credit Suisse AG bought a new stake in Oportun Financial in the 4th quarter at a value of $254,000. Finally, Deutsche Bank AG increased its position in shares of Oportun Financial by 5.5% during the 4th quarter. Deutsche Bank AG now owns 12,657 shares of the company valued at $256,000 after buying an additional 658 shares in the last quarter. 72.66% of the shares are held by institutional investors and hedge funds.
About Opportun Financial (Get a rating)
Oportun Financial Corporation provides financial services in the United States. It offers personal loans, car loans and credit cards. The company serves its customers online and by telephone, as well as through point of sale. Oportun Financial Corporation was founded in 2005 and is headquartered in San Carlos, California.
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