DA Davidson Cuts Open Lending (NASDAQ:LPRO) Price Target to $3.00

Open Lending (NASDAQ:LPRO) had its price objective decreased by equities researchers at DA Davidson from $4.00 to $3.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price indicates a potential upside of 100.67% from the stock’s current price.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Open Lending currently has a consensus rating of “Hold” and an average price target of $2.75.

Open Lending Stock Performance

Shares of NASDAQ LPRO traded up $0.05 during midday trading on Monday, hitting $1.50. 264,017 shares of the company’s stock were exchanged, compared to its average volume of 590,681. Open Lending has a twelve month low of $0.70 and a twelve month high of $4.33. The firm has a market cap of $176.69 million, a P/E ratio of -49.50 and a beta of 2.05. The stock’s 50 day moving average price is $1.65 and its 200-day moving average price is $1.80. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.52 and a quick ratio of 4.52.

Open Lending (NASDAQ:LPRO) last posted its earnings results on Thursday, March 12th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $19.35 million during the quarter, compared to analyst estimates of $21.92 million. Open Lending had a negative net margin of 4.54% and a positive return on equity of 8.83%. Equities research analysts anticipate that Open Lending will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Open Lending

Several large investors have recently made changes to their positions in LPRO. D.A. Davidson & CO. acquired a new position in shares of Open Lending in the 4th quarter worth approximately $28,000. Prudential Financial Inc. acquired a new stake in Open Lending during the second quarter valued at approximately $28,000. Thompson Davis & CO. Inc. acquired a new stake in Open Lending during the third quarter valued at approximately $42,000. Dynamic Technology Lab Private Ltd bought a new stake in Open Lending during the first quarter worth approximately $43,000. Finally, R Squared Ltd boosted its holdings in Open Lending by 32.7% during the fourth quarter. R Squared Ltd now owns 28,590 shares of the company’s stock worth $44,000 after buying an additional 7,047 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

About Open Lending

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.