B. Riley Comments on Oportun Financial Co.’s Q1 2024 Earnings (NASDAQ:OPRT)

Oportun Financial Co. (NASDAQ:OPRT) – Equities researchers at B. Riley issued their Q1 2024 earnings estimates for shares of Oportun Financial in a research report issued on Wednesday, April 24th. B. Riley analyst H. Goetsch expects that the company will earn $0.00 per share for the quarter. B. Riley has a “Buy” rating and a $8.00 price target on the stock. The consensus estimate for Oportun Financial’s current full-year earnings is ($0.18) per share. B. Riley also issued estimates for Oportun Financial’s Q2 2024 earnings at ($0.14) EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.29 EPS, FY2024 earnings at $0.22 EPS and FY2025 earnings at $1.10 EPS.

A number of other research analysts also recently commented on the company. Jefferies Financial Group downgraded Oportun Financial from a “buy” rating to a “hold” rating and reduced their price target for the company from $9.00 to $3.50 in a report on Thursday, March 14th. Keefe, Bruyette & Woods decreased their price objective on shares of Oportun Financial from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Thursday, March 14th. Finally, JMP Securities restated a “market perform” rating and issued a $6.50 target price on shares of Oportun Financial in a research note on Friday, March 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.00.

Oportun Financial Price Performance

Shares of OPRT stock opened at $3.22 on Monday. The company’s fifty day moving average price is $2.97 and its two-hundred day moving average price is $3.52. The firm has a market capitalization of $111.28 million, a P/E ratio of -0.64 and a beta of 1.26. Oportun Financial has a 12 month low of $2.05 and a 12 month high of $7.73.

Oportun Financial (NASDAQ:OPRT) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.06). Oportun Financial had a negative return on equity of 31.58% and a negative net margin of 17.02%. The company had revenue of $262.60 million during the quarter, compared to analysts’ expectations of $261.64 million.

Institutional Investors Weigh In On Oportun Financial

Several institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its stake in shares of Oportun Financial by 407.6% during the third quarter. Acadian Asset Management LLC now owns 538,627 shares of the company’s stock valued at $3,887,000 after acquiring an additional 432,517 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Oportun Financial during the third quarter worth approximately $39,000. Barclays PLC grew its position in Oportun Financial by 132.7% in the third quarter. Barclays PLC now owns 36,952 shares of the company’s stock worth $267,000 after buying an additional 21,071 shares during the last quarter. Citigroup Inc. lifted its position in shares of Oportun Financial by 21,717.1% during the 3rd quarter. Citigroup Inc. now owns 89,450 shares of the company’s stock valued at $646,000 after acquiring an additional 89,040 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Oportun Financial during the 3rd quarter worth $347,000. Institutional investors and hedge funds own 82.70% of the company’s stock.

About Oportun Financial

Oportun Financial Corporation provides financial services. The company offers personal loans and credit cards. It serves customers through online and over the phone, as well as through retail and Lending as a Service partner locations. The company was founded in 2005 and is headquartered in San Carlos, California.