Open Lending Co. (NASDAQ:LPRO) Expected to Post Quarterly Sales of $43.05 Million

Equities analysts predict that Open Lending Co. (NASDAQ:LPRO) will post sales of $43.05 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Open Lending’s earnings. The highest sales estimate is $43.60 million and the lowest is $42.06 million. Open Lending posted sales of $39.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The firm is expected to issue its next earnings report on Tuesday, March 8th.

According to Zacks, analysts expect that Open Lending will report full-year sales of $206.89 million for the current financial year, with estimates ranging from $206.08 million to $207.70 million. For the next year, analysts forecast that the firm will report sales of $233.45 million, with estimates ranging from $217.08 million to $249.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Open Lending.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings results on Tuesday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. Open Lending had a net margin of 36.64% and a return on equity of 51.25%. The company had revenue of $58.89 million for the quarter, compared to analyst estimates of $54.88 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share.

Several analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Open Lending from $40.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday, November 12th. Zacks Investment Research raised shares of Open Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 9th. Raymond James reduced their price objective on shares of Open Lending from $52.00 to $44.00 and set a “strong-buy” rating for the company in a research note on Thursday, November 11th. Needham & Company LLC reduced their price objective on shares of Open Lending from $53.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, November 10th. Finally, TheStreet cut shares of Open Lending from a “c-” rating to a “d+” rating in a research note on Friday, November 19th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $41.82.

In related news, insider Ross M. Jessup sold 10,000 shares of the company’s stock in a transaction on Friday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $352,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gene Yoon sold 221,626 shares of the company’s stock in a transaction on Thursday, September 9th. The stock was sold at an average price of $41.60, for a total transaction of $9,219,641.60. The disclosure for this sale can be found here. Insiders have sold a total of 386,876 shares of company stock valued at $14,828,654 over the last quarter. 25.96% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. grew its position in Open Lending by 10.0% during the 3rd quarter. Wasatch Advisors Inc. now owns 14,693,952 shares of the company’s stock valued at $530,011,000 after purchasing an additional 1,331,744 shares during the last quarter. Vanguard Group Inc. grew its position in Open Lending by 12.1% during the 2nd quarter. Vanguard Group Inc. now owns 9,802,636 shares of the company’s stock valued at $422,396,000 after purchasing an additional 1,061,212 shares during the last quarter. BlackRock Inc. grew its position in Open Lending by 246.5% during the 2nd quarter. BlackRock Inc. now owns 6,659,299 shares of the company’s stock valued at $286,948,000 after purchasing an additional 4,737,570 shares during the last quarter. Washington Harbour Partners LP grew its position in Open Lending by 36.9% during the 3rd quarter. Washington Harbour Partners LP now owns 2,902,749 shares of the company’s stock valued at $104,702,000 after purchasing an additional 781,947 shares during the last quarter. Finally, State Street Corp grew its position in Open Lending by 464.8% during the 2nd quarter. State Street Corp now owns 2,187,630 shares of the company’s stock valued at $94,265,000 after purchasing an additional 1,800,281 shares during the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ LPRO traded up $0.20 during midday trading on Thursday, hitting $24.90. The company’s stock had a trading volume of 563,642 shares, compared to its average volume of 1,025,622. The stock has a fifty day moving average price of $33.28 and a 200 day moving average price of $36.62. Open Lending has a one year low of $24.11 and a one year high of $44.00. The company has a current ratio of 9.71, a quick ratio of 9.71 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 42.20 and a beta of 0.29.

About Open Lending

Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). It specializes in risk-based pricing and modeling and provides automated decision-technology for automotive lenders throughout the United States.

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Earnings History and Estimates for Open Lending (NASDAQ:LPRO)

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