Oportun Financial (NASDAQ:OPRT) Issues Q2 2022 Earnings Guidance

Oportun Financial (NASDAQ:OPRTGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.06-$0.12 for the period, compared to the consensus estimate of $0.53. The company issued revenue guidance of $214.00 million-$218.00 million, compared to the consensus revenue estimate of $207.36 million.Oportun Financial also updated its FY 2022 guidance to $2.45-$2.56 EPS.

A number of brokerages recently commented on OPRT. Zacks Investment Research raised Oportun Financial from a hold rating to a strong-buy rating and set a $13.00 price target for the company in a report on Wednesday, May 18th. BTIG Research reaffirmed a buy rating and set a $27.00 target price on shares of Oportun Financial in a report on Thursday, April 14th. Finally, Loop Capital assumed coverage on Oportun Financial in a report on Monday, March 14th. They set a buy rating and a $24.00 target price on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $24.00.

Shares of NASDAQ OPRT traded down $0.04 during mid-day trading on Wednesday, hitting $10.69. The company had a trading volume of 1,122 shares, compared to its average volume of 144,427. The stock has a market cap of $350.78 million, a price-to-earnings ratio of 3.80 and a beta of 1.37. Oportun Financial has a 12 month low of $10.28 and a 12 month high of $27.95. The firm’s 50 day simple moving average is $12.81 and its two-hundred day simple moving average is $17.19.

Oportun Financial (NASDAQ:OPRTGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.98. The business had revenue of $214.70 million for the quarter, compared to the consensus estimate of $198.40 million. Oportun Financial had a return on equity of 18.01% and a net margin of 12.76%. The business’s revenue was up 58.7% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Equities analysts anticipate that Oportun Financial will post 1.96 earnings per share for the current year.

In related news, Director Louis Miramontes sold 5,357 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $13.76, for a total value of $73,712.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Oportun Financial by 1.5% during the 1st quarter. BlackRock Inc. now owns 2,284,168 shares of the company’s stock valued at $32,800,000 after acquiring an additional 33,604 shares in the last quarter. Vanguard Group Inc. raised its stake in Oportun Financial by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,100,634 shares of the company’s stock valued at $15,806,000 after acquiring an additional 26,324 shares in the last quarter. Clearbridge Investments LLC raised its stake in Oportun Financial by 6.6% during the 1st quarter. Clearbridge Investments LLC now owns 663,619 shares of the company’s stock valued at $9,530,000 after acquiring an additional 40,911 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Oportun Financial by 2.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 499,125 shares of the company’s stock valued at $7,167,000 after acquiring an additional 14,104 shares in the last quarter. Finally, State Street Corp raised its stake in Oportun Financial by 3.8% during the 1st quarter. State Street Corp now owns 447,270 shares of the company’s stock valued at $6,423,000 after acquiring an additional 16,327 shares in the last quarter. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Oportun Financial Company Profile (Get Rating)

Oportun Financial Corporation provides financial services. It offers personal loans, auto loans, and credit cards. The company serves customers online and over-the-phone, as well as through retail locations. It operates in 24 states in the United States, which include Arkansas, Delaware, Indiana, Kentucky, Mississippi, Montana, North Dakota, New Hampshire, Oregon, South Carolina, South Dakota, and Virginia.

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