Oportun Financial (NASDAQ:OPRT) Rating Lowered to Neutral at JPMorgan Chase & Co.
JPMorgan Chase & Co. cut shares of Oportun Financial (NASDAQ:OPRT) from an overweight rating to a neutral rating in a research report report published on Friday, BenzingaRatingsTable reports. The firm currently has $24.50 target price on the stock, up from their previous target price of $22.00. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group started coverage on Oportun Financial in a report on Monday, October 21st. They set a buy rating and a $19.00 target price on the stock. BTIG Research increased their price target on Oportun Financial from $22.00 to $27.00 and gave the stock a buy rating in a research note on Monday, December 23rd. JMP Securities assumed coverage on Oportun Financial in a research note on Wednesday, October 23rd. They set an outperform rating and a $20.00 price target on the stock. Barclays assumed coverage on Oportun Financial in a research note on Monday, October 21st. They set an overweight rating and a $21.00 price target on the stock. Finally, Zacks Investment Research raised Oportun Financial from a sell rating to a hold rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $21.92.
NASDAQ:OPRT traded down $1.67 during trading hours on Friday, reaching $21.38. 163,235 shares of the company traded hands, compared to its average volume of 92,928. The firm’s 50-day simple moving average is $21.97. Oportun Financial has a 1-year low of $14.22 and a 1-year high of $25.84.
Several institutional investors have recently modified their holdings of the business. Institutional Venture Management XIV LLC purchased a new position in shares of Oportun Financial during the 3rd quarter worth $62,426,000. Millennium Management LLC purchased a new position in shares of Oportun Financial during the 3rd quarter worth $2,071,000. Ashford Capital Management Inc. purchased a new position in shares of Oportun Financial during the 3rd quarter worth $1,097,000. Dean Capital Investments Management LLC purchased a new position in shares of Oportun Financial during the 3rd quarter worth $602,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Oportun Financial during the 3rd quarter worth $406,000. 46.19% of the stock is currently owned by institutional investors.
Oportun Financial Company Profile
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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