Jefferies downgraded Oportun Financial to Hold from Buy with a price target of $3.50, down from $9. The analyst cites the company’s earnings revisions in recent quarters tied to credit issues, elevated credit losses, high balance sheet leverage and associated covenants which may constrain the company’s operational flexibility for the downgrade. The firm awaits leverage reduction and improving credit before recommending Oportun shares again.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on OPRT:
- Oportun Financial sees FY24 revenue $975M – $1B, consensus $1B
- Oportun Financial sees Q1 revenue $233M – $238M, consensus $258.7M
- Oportun Financial reports Q4 EPS (54c), consensus (37c)
- Oportun Reports Fourth Quarter and Full Year 2023 Financial Results
- Oportun to Present at Sidoti March Virtual Investor Conference
