Oportun Financial (NASDAQ:OPRT) Releases Third Quarter 2022 Earnings Forecast

Opportun Financial (NASDAQ:OPRT – Get a rating) updated its earnings guidance for the third quarter of 2022 on Tuesday. The company provided earnings per share (EPS) guidance of -$0.12 to $0.06 for the period, compared to the estimate consensus of $0.27. The company released a revenue forecast of $240.00-245.00 million, compared to the consensus revenue estimate of $235.43 million. Oportun Financial also updated its forecast for fiscal 2022 to $1.19 – $1.34 EPS.

A Wall Street analyst gives his opinion

Several equity research analysts have published reports on the company. JMP Securities lowered its target price on Oportun Financial from $17.00 to $11.00 and set a market outperformance rating for the stock in a research report on Friday, August 26. BTIG Research lowered its price target on Oportun Financial to $21.00 in a Monday, August 15 research report. Barclays lowered its price target on Oportun Financial to $12.00 in a Monday August 15 research report. Finally, Keefe, Bruyette & Woods lowered their price target on Oportun Financial from $21.00 to $14.00 in a Monday, July 11 research report. Five research analysts rated the stock with a buy rating. According to data from MarketBeat, Oportun Financial has an average buy rating and a consensus target price of $17.50.

Oportun Financial Trading up 0.6%

NASDAQ:OPRT shares rose $0.03 on Tuesday, hitting $5.06. 4,669 shares of the company were traded, against an average volume of 420,019. The company’s 50-day simple moving average is $8.21 and its 200-day simple moving average is $11.32. Oportun Financial has a 52-week low of $4.78 and a 52-week high of $27.95. The stock has a market capitalization of $166.63 million, a P/E ratio of 2.20 and a beta of 1.66.

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Opportun Financial (NASDAQ:OPRT – Get a rating) last reported its quarterly earnings data on Monday, August 8. The company reported earnings per share (EPS) of $0.11 for the quarter, beating consensus analyst estimates of $0.09 by $0.02. Oportun Financial had a return on equity of 14.58% and a net margin of 9.29%. The company posted revenue of $226.00 million for the quarter, compared to $214.60 million expected by analysts. In the same period last year, the company earned $0.38 per share. The company’s revenue for the quarter increased by 63.8% compared to the same quarter last year. Sell-side analysts expect Oportun Financial to post EPS of 0.61 for the current fiscal year.

Institutional Trading of Opportun Financial

Major investors have recently changed their stake in the company. Millennium Management LLC strengthened its position in Oportun Financial by 100.2% during the 2nd quarter. Millennium Management LLC now owns 384,076 shares of the company valued at $3,176,000 after acquiring an additional 192,209 shares last quarter. Deutsche Bank AG increased its position in Oportun Financial by 1,005.7% during the second quarter. Deutsche Bank AG now owns 124,933 shares of the company valued at $1,033,000 after acquiring an additional 113,634 shares last quarter. Prudential Financial Inc. acquired a new stake in Oportun Financial during Q1 valued at approximately $1,222,000. Charles Schwab Investment Management Inc. increased its position in Oportun Financial by 46.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 208,959 shares of the company valued at $3,001,000 after acquiring an additional 66,675 shares last quarter. Finally, State Street Corp increased its stake in shares of Oportun Financial by 12.5% ​​in the second quarter. State Street Corp now owns 503,397 shares of the company valued at $4,163,000 after purchasing an additional 56,127 shares in the last quarter. 69.87% of the shares are held by institutional investors.

About Opportun Financial

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Oportun Financial Corporation provides financial services. 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. It operates in 24 states in the United States, including Arkansas, Delaware, Indiana, Kentucky, Mississippi, Montana, North Dakota, New Hampshire, Oregon, South Carolina, South Dakota and Virginia.

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