Open Lending Co. (NASDAQ:LPRO) Receives $4.62 Consensus PT from Analysts

Open Lending Co. (NASDAQ:LPRO) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $4.62.

A number of research firms have recently weighed in on LPRO. DA Davidson restated a “buy” rating and issued a $4.00 price target on shares of Open Lending in a research note on Wednesday. Needham & Company LLC cut their price objective on Open Lending from $7.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group cut Open Lending from a “buy” rating to a “hold” rating and lowered their target price for the stock from $8.00 to $3.70 in a report on Thursday, March 20th. Finally, Citizens Jmp initiated coverage on Open Lending in a research note on Friday, April 4th. They set a “market perform” rating on the stock.

Institutional Investors Weigh In On Open Lending

Several institutional investors and hedge funds have recently made changes to their positions in LPRO. Invesco Ltd. boosted its holdings in Open Lending by 1.5% in the fourth quarter. Invesco Ltd. now owns 157,318 shares of the company’s stock valued at $939,000 after acquiring an additional 2,287 shares during the last quarter. LPL Financial LLC lifted its position in shares of Open Lending by 4.2% in the 4th quarter. LPL Financial LLC now owns 82,461 shares of the company’s stock worth $492,000 after purchasing an additional 3,309 shares during the period. Federated Hermes Inc. boosted its stake in shares of Open Lending by 4.3% in the 4th quarter. Federated Hermes Inc. now owns 97,379 shares of the company’s stock valued at $581,000 after purchasing an additional 4,059 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Open Lending during the fourth quarter worth $25,000. Finally, Two Sigma Securities LLC raised its stake in Open Lending by 26.9% during the fourth quarter. Two Sigma Securities LLC now owns 23,401 shares of the company’s stock worth $140,000 after buying an additional 4,962 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Stock Performance

Shares of Open Lending stock opened at $0.83 on Monday. The company has a 50 day moving average of $3.31 and a 200-day moving average of $5.00. The company has a market cap of $99.89 million, a PE ratio of 27.80 and a beta of 1.57. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending has a 1-year low of $0.70 and a 1-year high of $6.97.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Monday, March 31st. The company reported ($1.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.23). Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The business had revenue of $24.23 million during the quarter, compared to analyst estimates of $24.03 million. During the same period in the prior year, the business posted ($0.04) EPS. As a group, equities research analysts forecast that Open Lending will post 0.1 earnings per share for the current fiscal year.

Open Lending Company Profile

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers in the United States. The company offers Lenders Protection Program (LPP), which is a cloud-based automotive lending platform that provides loan analytics solutions and automated issuance of credit default insurance with third-party insurance providers.