Oportun Financial (NASDAQ:OPRT) Announces Quarterly Earnings Results

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

Oportun Financial Trading Up 1.2%

Shares of OPRT traded up $0.12 during mid-day trading on Tuesday, reaching $10.04. The company’s stock had a trading volume of 571,635 shares, compared to its average volume of 553,270. Oportun Financial has a 1-year low of $4.03 and a 1-year high of $10.28. The business has a 50-day simple moving average of $8.43 and a two-hundred day simple moving average of $6.23. The stock has a market cap of $461.71 million, a P/E ratio of 25.10 and a beta of 1.25.

Insiders Place Their Bets

In related news, insider Kathleen Layton sold 4,223 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $7.80, for a total value of $32,939.40. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 7,082 shares of company stock valued at $55,240. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OPRT shares. Stephens boosted their price target on Oportun Financial from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Oportun Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 24th. Jefferies Financial Group increased their price target on shares of Oportun Financial from $6.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, October 7th. Finally, Weiss Ratings raised shares of Oportun Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.75.

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.