Oportun Financial (NASDAQ:OPRT) Updates 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 guidance of $0.06-$0.12 for the period, compared to the consensus earnings per share 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.

OPRT traded down $0.04 during trading on Wednesday, reaching $10.69. 1,122 shares of the stock traded hands, 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 fifty-two week low of $10.28 and a fifty-two week high of $27.95. The stock’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 for the quarter, topping analysts’ consensus estimates of $0.60 by $0.98. Oportun Financial had a return on equity of 18.01% and a net margin of 12.76%. The company had revenue of $214.70 million during the quarter, compared to analysts’ expectations of $198.40 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 58.7% compared to the same quarter last year. On average, equities research analysts expect that Oportun Financial will post 1.96 EPS for the current year.

A number of analysts have weighed in on OPRT shares. BTIG Research reaffirmed a buy rating and issued a $27.00 price target on shares of Oportun Financial in a research report on Thursday, April 14th. 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 research report on Wednesday, May 18th. Finally, Loop Capital assumed coverage on Oportun Financial in a research report on Monday, March 14th. They set a buy rating and a $24.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Oportun Financial has an average rating of Buy and an average 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 transaction of $73,712.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 12.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of OPRT. Morgan Stanley increased its stake in Oportun Financial by 348.8% during the second quarter. Morgan Stanley now owns 55,700 shares of the company’s stock valued at $1,116,000 after acquiring an additional 43,289 shares during the period. Citadel Advisors LLC bought a new stake in shares of Oportun Financial in the 2nd quarter valued at approximately $685,000. LPL Financial LLC grew its stake in shares of Oportun Financial by 11.9% in the 3rd quarter. LPL Financial LLC now owns 26,063 shares of the company’s stock valued at $652,000 after purchasing an additional 2,779 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Oportun Financial by 9.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 76,096 shares of the company’s stock valued at $1,905,000 after purchasing an additional 6,352 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Oportun Financial by 48.0% in the 4th quarter. Bank of America Corp DE now owns 75,985 shares of the company’s stock valued at $1,539,000 after purchasing an additional 24,645 shares during the period. Hedge funds and other institutional investors own 70.58% of the company’s stock.

About Oportun Financial (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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