Oportun Financial (NASDAQ:OPRT) Price Target Raised to $14.00

Oportun Financial (NASDAQ:OPRT) had its price target lifted by Stephens from $12.00 to $14.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

OPRT has been the topic of several other research reports. Weiss Ratings raised shares of Oportun Financial from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Wall Street Zen raised shares of Oportun Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 24th. Finally, Jefferies Financial Group lifted their target price on shares of Oportun Financial from $6.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.25.

Oportun Financial Price Performance

OPRT traded down $0.29 on Wednesday, hitting $11.31. The company had a trading volume of 617,491 shares, compared to its average volume of 666,736. Oportun Financial has a 52-week low of $4.03 and a 52-week high of $13.34. The stock has a fifty day simple moving average of $8.75 and a 200-day simple moving average of $6.36. The firm has a market capitalization of $520.15 million, a P/E ratio of 15.28 and a beta of 1.29.

Oportun Financial (NASDAQ:OPRT) last posted its earnings results on Tuesday, November 3rd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $246.28 million for the quarter, compared to the consensus estimate of $237.87 million. Oportun Financial had a return on equity of 13.41% and a net margin of 2.05%. Equities research analysts expect that Oportun Financial will post 1.28 earnings per share for the current fiscal year.

Insider Activity at Oportun Financial

In other news, insider Kathleen Layton sold 4,223 shares of Oportun Financial stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $7.80, for a total value of $32,939.40. Following the completion of the sale, the insider directly owned 292,006 shares in the company, valued at $2,277,646.80. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 7,082 shares of company stock worth $55,240 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPRT. BlackRock Inc. bought a new stake in Oportun Financial in the 2nd quarter worth approximately $19,244,000. Meros Investment Management LP bought a new position in shares of Oportun Financial during the 2nd quarter valued at $6,425,069. CenterBook Partners LP purchased a new position in shares of Oportun Financial in the 3rd quarter worth $7,068,000. Lazard Asset Management LLC purchased a new position in shares of Oportun Financial in the 1st quarter worth $1,268,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Oportun Financial by 20.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,363,788 shares of the company’s stock worth $6,287,000 after acquiring an additional 234,723 shares during the period. Institutional investors own 82.70% of the company’s stock.

About Oportun Financial

Oportun Financial Corp. is a financial technology company that provides credit products and related financial services to consumers in the United States, with a particular focus on serving Hispanic and other traditionally underserved communities. The company uses data-driven underwriting and digital tools to offer customers access to credit, including borrowers who may have limited credit histories.

Oportun’s primary products have included unsecured personal loans and credit cards. Through its digital platform and customer service channels, the company has also provided tools intended to help consumers manage borrowing, make payments and build or strengthen their credit profiles.

Founded in 2005 as Progreso Financiero, the company adopted the Oportun name in 2015 and became a publicly traded company in 2019.