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Oportun Financial Corporation (OPRT) Surges 10.3%: Is This an Indication of Further Gains?

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Oportun Financial Corporation (OPRT - Free Report) shares soared 10.3% in the last trading session to close at $21.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.1% loss over the past four weeks.

Oportun Financial Corporation scored a third consecutive day of price increase following the release of first-quarter 2021 results. The company delivered a positive earnings surprise of 105%. Also, it reported net income of $3 million as against a loss of $13.3 million in the year-ago quarter.

Price and Consensus

Price Consensus Chart for OPRT

This company is expected to post quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of +121.7%. Revenues are expected to be $157.96 million, up 10.7% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Oportun Financial Corporation, the consensus EPS estimate for the quarter has been revised 18.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on OPRT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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