Back to top

Image: Bigstock

Oportun Financial Corporation (OPRT) Stock Jumps 11.8%: Will It Continue to Soar?

Read MoreHide Full Article

Oportun Financial Corporation (OPRT - Free Report) shares soared 11.8% in the last trading session to close at $9.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 25.6% loss over the past four weeks.

The performance of financial service providers is expected to have improved in the second quarter given the higher interest rates and rise in demand for consumer loans. Investors are also bullish on the finance sector on expectations of further interest rate hikes this year. This possibly led to the optimistic stance by the investors, which drove Oportun Financial higher.

This company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of -82.1%. Revenues are expected to be $217.83 million, up 57.5% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Oportun Financial Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Oportun Financial Corporation is a member of the Zacks Financial - Miscellaneous Services industry. One other stock in the same industry, Atlanticus Holdings Corporation (ATLC - Free Report) , finished the last trading session 0.4% higher at $36.69. ATLC has returned -7.9% over the past month.

Atlanticus Holdings Corporation's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.45. Compared to the company's year-ago EPS, this represents a change of -7.1%. Atlanticus Holdings Corporation currently boasts a Zacks Rank of #5 (Strong Sell).


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Atlanticus Holdings Corporation (ATLC) - free report >>

Oportun Financial Corporation (OPRT) - free report >>

Published in