Digital lending platform Happen Bank (NYSE: HAPN) will be reporting results this Monday afternoon. Here’s what to look for.
Happen Bank beat analysts’ revenue expectations last quarter, reporting revenues of $252.3 million, up 15.9% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Happen Bank a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Happen Bank’s revenue to grow 5.6% year on year, slowing from the 32.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Happen Bank has a history of exceeding Wall Street’s expectations.
Looking at Happen Bank’s peers in the consumer finance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. FirstCash delivered year-on-year revenue growth of 29.4%, beating analysts’ expectations by 4.1%, and Enova reported revenues up 21.6%, topping estimates by 2.1%. FirstCash traded down 6.6% following the results while Enova was up 8.9%.
Read our full analysis of FirstCash’s results here and Enova’s results here.
There has been positive sentiment among investors in the consumer finance segment, with share prices up 4.9% on average over the last month. Happen Bank is down 10.1% during the same time and is heading into earnings with an average analyst price target of $24.11 (compared to the current share price of $18.06).
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