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

Oportun Financial (NASDAQ:OPRTGet Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. 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.

Shares of OPRT stock opened at $11.09 on Monday. The stock has a fifty day moving average price of $12.61 and a 200 day moving average price of $16.78. The stock has a market cap of $363.91 million, a PE ratio of 3.93 and a beta of 1.37. Oportun Financial has a 1 year low of $10.28 and a 1 year high of $27.95.

Oportun Financial (NASDAQ:OPRTGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.98. The company had revenue of $214.70 million during 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%. Oportun Financial’s revenue was up 58.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Oportun Financial will post 1.96 EPS for the current year.

A number of equities research analysts have issued reports on OPRT shares. BTIG Research reissued a buy rating and set a $27.00 price target on shares of Oportun Financial in a research report on Thursday, April 14th. Zacks Investment Research upgraded Oportun Financial from a hold rating to a strong-buy rating and set a $13.00 price objective on the stock in a research note on Wednesday, May 18th. Finally, Loop Capital began coverage on Oportun Financial in a research note on Monday, March 14th. They set a buy rating and a $24.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Oportun Financial currently has a consensus rating of Buy and a consensus price target of $24.00.

In related news, Director Louis Miramontes sold 5,357 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through this link. 12.60% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of OPRT. Morgan Stanley lifted its position in Oportun Financial by 348.8% in the second quarter. Morgan Stanley now owns 55,700 shares of the company’s stock worth $1,116,000 after purchasing an additional 43,289 shares during the period. Citadel Advisors LLC acquired a new stake in Oportun Financial in the second quarter worth approximately $685,000. LPL Financial LLC lifted its position in Oportun Financial by 11.9% in the third quarter. LPL Financial LLC now owns 26,063 shares of the company’s stock worth $652,000 after purchasing an additional 2,779 shares during the period. Bank of New York Mellon Corp lifted its position in Oportun Financial by 9.1% in the third quarter. Bank of New York Mellon Corp now owns 76,096 shares of the company’s stock worth $1,905,000 after purchasing an additional 6,352 shares during the period. Finally, Bank of America Corp DE lifted its position in Oportun Financial by 48.0% in the fourth quarter. Bank of America Corp DE now owns 75,985 shares of the company’s stock worth $1,539,000 after purchasing an additional 24,645 shares during the period. 70.58% of the stock is owned by institutional investors and hedge funds.

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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