Brokerages Set OppFi Inc. (NYSE:OPFI) Target Price at $13.00

OppFi Inc. (NYSE:OPFI) has earned an average rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $13.00.

Several research firms have recently weighed in on OPFI. Zacks Research lowered OppFi from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Stephens upped their price target on OppFi from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings raised OppFi from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Citizens Jmp lowered their target price on shares of OppFi from $16.00 to $15.00 and set a “market outperform” rating on the stock in a report on Friday, April 17th. Finally, Wall Street Zen upgraded shares of OppFi from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th.

OppFi Stock Performance

NYSE:OPFI opened at $9.76 on Thursday. The company has a 50-day moving average of $9.04 and a 200-day moving average of $8.90. The company has a market capitalization of $833.69 million, a price-to-earnings ratio of 10.50 and a beta of 1.77. OppFi has a 52 week low of $7.36 and a 52 week high of $12.60.

OppFi (NYSE:OPFI) last posted its earnings results on Thursday, May 7th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $87.30 million for the quarter, compared to analysts’ expectations of $151.14 million. OppFi had a net margin of 10.86% and a return on equity of 39.90%. Sell-side analysts forecast that OppFi will post 1.8 EPS for the current year.

Insider Buying and Selling at OppFi

In other news, Director Christina M. Favilla sold 30,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $8.14, for a total value of $244,200.00. Following the completion of the sale, the director directly owned 156,737 shares in the company, valued at approximately $1,275,839.18. This trade represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 70.20% of the company’s stock.

Institutional Investors Weigh In On OppFi

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in shares of OppFi by 191.3% during the first quarter. Goldman Sachs Group Inc. now owns 189,961 shares of the company’s stock worth $1,767,000 after purchasing an additional 124,744 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of OppFi by 23.3% in the first quarter. Rhumbline Advisers now owns 19,362 shares of the company’s stock valued at $180,000 after purchasing an additional 3,662 shares in the last quarter. Creative Planning bought a new position in OppFi in the 2nd quarter worth approximately $188,000. Cetera Investment Advisers bought a new position in OppFi in the 2nd quarter worth approximately $206,000. Finally, JPMorgan Chase & Co. lifted its holdings in OppFi by 3,200.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 296,399 shares of the company’s stock worth $4,147,000 after buying an additional 287,418 shares in the last quarter. Institutional investors own 7.10% of the company’s stock.

About OppFi

OppFi (NYSE: OPFI) is a financial technology company that provides digital lending and credit solutions designed to meet the needs of near-prime consumers in the United States. Through its technology-driven platform, OppFi offers unsecured installment loans under the OppLoans brand, allowing borrowers to access credit online or via mobile devices. The company leverages proprietary data analytics and machine learning models to assess credit risk, streamline underwriting processes and deliver personalized loan products with transparent terms.

Headquartered in Chicago, Illinois, OppFi was founded in 2013 with a mission to increase financial inclusion for underserved and underbanked populations.