Oportun Financial Corp Down 49.49% To $2.94 After Earnings Miss

Oportun Financial Corp (OPRT) missed earnings projections on 11/6/2023 for Q3 2023.

Oportun Financial Corp's earnings came in at an EPS loss of $0.46 per share, 248% lower than estimates for an EPS of $0.31 per share. The firm's earnings are down 284% since reporting $0.25 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $268.3 million. That is an increase of 7.26% in revenues from the year-ago report and is 1.71% higher than consensus estimates set at $263.8 million.

The stock is down 49.49% to $2.94 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Oportun Financial Corp has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 87, putting Oportun Financial Corp in the top 25% of stocks. The firm set a 52-week low on March 15, 2023 at $2.19 and set a 52-week high on February 2, 2023 at $8.06.

Oportun Financial Corp is engaged in providing financial services to people who either do not have a credit score or who may have a limited credit history. The company offers Personal Loans and Auto Loans to its customers. Its product offerings include small-dollar, unsecured installment loans and other products and services.