Oportun Financial (NASDAQ:OPRT) Announces Earnings Results, Beats Estimates By $0.05 EPS

Oportun Financial (NASDAQ:OPRT) released its earnings results on Tuesday. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05, FiscalAI reports. Oportun Financial had a return on equity of 13.41% and a net margin of 2.05%. The firm had revenue of $246.20 million during the quarter, compared to analyst estimates of $237.87 million.

Oportun Financial Stock Up 1.2%

OPRT traded up $0.12 on Tuesday, reaching $10.04. The company’s stock had a trading volume of 571,155 shares, compared to its average volume of 553,270. The company has a market capitalization of $461.71 million, a price-to-earnings ratio of 25.10 and a beta of 1.25. Oportun Financial has a fifty-two week low of $4.03 and a fifty-two week high of $10.28. The stock has a 50 day moving average of $8.43 and a two-hundred day moving average of $6.23.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Stephens increased their price target on Oportun Financial from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings raised Oportun Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded 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 raised 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 analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.75.

Insiders Place Their Bets

In other news, insider Kathleen Layton sold 4,223 shares of the company’s stock in a transaction 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 transaction, the insider owned 292,006 shares in the company, valued at approximately $2,277,646.80. This represents a 1.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 7,082 shares of company stock worth $55,240 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Oportun Financial Company Profile

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.