Oportun Financial (NASDAQ:OPRT) Stock Rating Upgraded by Zacks Investment Research

Oportun Financial (NASDAQ:OPRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

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 based in SAN CARLOS, Calif. “

Other research analysts have also recently issued research reports about the stock. Barclays initiated coverage on shares of Oportun Financial in a research note on Monday, October 21st. They set an “overweight” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of Oportun Financial in a research note on Monday, October 21st. They set an “overweight” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Oportun Financial in a research note on Monday, October 21st. They set an “outperform” rating and a $20.00 target price on the stock. JMP Securities initiated coverage on shares of Oportun Financial in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $20.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Oportun Financial in a research note on Monday, October 21st. They set a “buy” rating and a $19.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Oportun Financial has an average rating of “Buy” and an average target price of $21.92.

Shares of OPRT stock traded down $1.67 during mid-day trading on Wednesday, reaching $21.38. 163,235 shares of the company’s stock traded hands, compared to its average volume of 92,928. Oportun Financial has a 12 month low of $14.22 and a 12 month high of $25.84. The firm’s 50 day moving average price is $21.93.

Oportun Financial (NASDAQ:OPRT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($2.19). The firm had revenue of $153.90 million for the quarter, compared to analysts’ expectations of $156.80 million. As a group, sell-side analysts expect that Oportun Financial will post 1.22 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Institutional Venture Management XIV LLC purchased a new position in shares of Oportun Financial during the 3rd quarter valued at $62,426,000. Millennium Management LLC purchased a new position in shares of Oportun Financial during the 3rd quarter valued at $2,071,000. Ashford Capital Management Inc. purchased a new position in shares of Oportun Financial during the 3rd quarter valued at $1,097,000. Dean Capital Investments Management LLC purchased a new position in shares of Oportun Financial during the 3rd quarter valued at $602,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Oportun Financial during the 3rd quarter valued at $406,000. Institutional investors own 46.19% of the company’s stock.

About Oportun Financial

Oportun is a high-growth, mission-driven CDFI and provider of inclusive, affordable financial services powered by a deep, data-driven understanding of its customers and advanced proprietary technology. By lending money to hardworking, low-to-moderate-income individuals, Oportun helps them move forward in their lives, demonstrate their creditworthiness, and establish the credit history they need to access new opportunities.

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