Northland Securities Forecasts Strong Price Appreciation for OppFi (NYSE:OPFI) Stock

OppFi (NYSE:OPFI) had its price target raised by equities researchers at Northland Securities from $6.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Northland Securities’ target price would indicate a potential upside of 23.08% from the company’s current price.

OppFi Stock Down 1.8 %

Shares of NYSE:OPFI opened at $6.50 on Friday. The company has a market cap of $560.63 million, a PE ratio of 81.26 and a beta of 1.20. OppFi has a fifty-two week low of $2.30 and a fifty-two week high of $6.87. The firm has a 50-day simple moving average of $4.81 and a 200 day simple moving average of $4.00.

OppFi (NYSE:OPFI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.12. The business had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $121.14 million. OppFi had a return on equity of 28.73% and a net margin of 1.00%. During the same period in the prior year, the firm earned $0.19 EPS. As a group, research analysts forecast that OppFi will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of OppFi by 0.6% in the first quarter. Vanguard Group Inc. now owns 823,916 shares of the company’s stock worth $2,060,000 after purchasing an additional 5,218 shares in the last quarter. Acadian Asset Management LLC bought a new position in OppFi in the 1st quarter valued at about $51,000. Brendel Financial Advisors LLC acquired a new position in OppFi during the 3rd quarter valued at about $105,000. Bank of New York Mellon Corp increased its stake in OppFi by 120.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock valued at $124,000 after buying an additional 20,048 shares during the period. Finally, Marshall Wace LLP raised its position in shares of OppFi by 24.2% during the 2nd quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock worth $581,000 after buying an additional 33,347 shares in the last quarter. Institutional investors own 7.10% of the company’s stock.

About OppFi

OppFi Inc operates a cialty finance platform that allows banks to offer credit access. Its platform facilitates the OppLoans, an installment loan product; SalaryTap, a payroll deduction secured installment loan product; and OppFi Card, a credit card product. OppFi Inc was founded in 2012 and is headquartered in Chicago, Illinois.