Oportun Financial (NASDAQ:OPRT) Price Target Cut to $8.00 by Analysts at B. Riley

Oportun Financial (NASDAQ:OPRT) had its target price reduced by equities research analysts at B. Riley from $9.00 to $8.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 153.97% from the company’s current price.

Other analysts have also issued reports about the stock. JMP Securities restated a “market perform” rating and set a $6.50 target price on shares of Oportun Financial in a research report on Friday, March 15th. Jefferies Financial Group lowered shares of Oportun Financial from a “buy” rating to a “hold” rating and dropped their price target for the stock from $9.00 to $3.50 in a research report on Thursday, March 14th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Oportun Financial from $4.50 to $4.00 and set a “market perform” rating for the company in a research report on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

Oportun Financial Stock Up 40.0 %

OPRT opened at $3.15 on Wednesday. The firm has a 50 day moving average price of $3.02 and a 200-day moving average price of $3.63. Oportun Financial has a twelve month low of $2.05 and a twelve month high of $7.73. The stock has a market capitalization of $108.86 million, a price-to-earnings ratio of -0.62 and a beta of 1.26.

Oportun Financial (NASDAQ:OPRT) last announced its earnings results on Tuesday, March 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.06). The business had revenue of $262.60 million for the quarter, compared to the consensus estimate of $261.64 million. Oportun Financial had a negative net margin of 17.02% and a negative return on equity of 31.58%. As a group, analysts expect that Oportun Financial will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Oportun Financial

A number of hedge funds have recently modified their holdings of OPRT. Bank of New York Mellon Corp boosted its position in shares of Oportun Financial by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 76,347 shares of the company’s stock worth $551,000 after acquiring an additional 2,865 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Oportun Financial during the third quarter worth $39,000. SG Americas Securities LLC bought a new position in shares of Oportun Financial during the fourth quarter worth $40,000. Versant Capital Management Inc boosted its position in shares of Oportun Financial by 85.2% during the first quarter. Versant Capital Management Inc now owns 30,601 shares of the company’s stock worth $74,000 after acquiring an additional 14,079 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Oportun Financial by 7,197.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,594 shares of the company’s stock worth $57,000 after acquiring an additional 14,394 shares during the last quarter. 82.70% of the stock is currently owned by institutional investors.

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.