Opportun Financial (NASDAQ:OPRT) has been upgraded by Zacks Investment Research from a “hold” note to a “buy” note in a note issued to investors on Saturday, Zacks.com reports. The company currently has a target price of $22.00 on the stock. Zacks Investment ResearchThe price target would suggest a potential upside of 16.03% from the stock’s previous close.
According to Zacks, “Oportun Financial Corporation is a community development financial institution providing financial services. It operates primarily in Arizona, California, Florida, Idaho, Illinois, Missouri, Nevada, New Jersey, New Mexico, Texas, Utah, and Wisconsin. Oportun Financial Corporation is headquartered in SAN CARLOS, California.”
A number of other brokerages have also recently released OPRT reports. JPMorgan Chase & Co. upgraded Oportun Financial from a “neutral” rating to an “overweight” rating and lowered its price target for the company from $27.00 to $23.00 in a report released Wednesday. 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. Finally, JMP Securities raised its price target on Oportun Financial from $26.00 to $30.00 and gave the stock a “market outperforming” rating in a Monday, November 8 report. Five investment analysts rated the stock with a buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $25.80.
NASDAQ OPRT opened at $18.96 on Friday. Oportun Financial has a 1 year minimum of $15.35 and a 1 year maximum of $27.95. The stock has a 50-day moving average of $21.22 and a 200-day moving average of $22.71. The company has a market capitalization of $538.24 million, a PE ratio of 13.74 and a beta of 1.26.
Oportun Financial Inc (NASDAQ:OPRT) last released its results on Wednesday, November 3. The company reported earnings per share of $0.78 for the quarter, beating consensus analyst estimates of $0.31 from $0.47. Oportun Financial had a return on equity of 19.91% and a net margin of 7.27%. The company posted revenue of $159.10 million in the quarter, compared to analyst estimates of $152.74 million. During the same quarter of the previous year, the company posted an EPS of ($0.04). On average, sell-side analysts expect Oportun Financial to post earnings per share of 2.03 for the current year.
In other Opportun Financial news, CFO Jonathan Aaron Coblentz sold 10,400 shares of the company in a transaction that took place on Thursday, November 11. The stock was sold at an average price of $27.50, for a total transaction of $286,000.00. The transaction was disclosed in an SEC filing, available at the SEC website. 12.60% of the shares are currently held by insiders.
Institutional investors have recently been buying and selling shares of the stock. Citigroup Inc. increased its stake in shares of Oportun Financial to 92.2% in the third quarter. Citigroup Inc. now owns 2,291 shares of the company worth $57,000 after purchasing an additional 1,099 shares in the last quarter. Metropolitan Life Insurance Co NY increased its stake in shares of Oportun Financial by 96,000.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 6,727 shares of the company worth $135,000 after purchasing an additional 6,720 shares in the last quarter. Voya Investment Management LLC bought a new stake in shares of Oportun Financial in Q3 for a value of approximately $213,000. Baker Tilly Wealth Management LLC purchased a new stake in shares of Oportun Financial in Q3 for approximately $242,000. Finally, AQR Capital Management LLC bought a new stake in the shares of Oportun Financial in the 2nd quarter for a value of approximately $203,000. Institutional investors hold 72.66% of the company’s shares.
About Opportun Financial
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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