Needham & Company LLC Issues Pessimistic Forecast for Open Lending (NASDAQ:LPRO) Stock Price

Open Lending (NASDAQ:LPRO) had its price objective reduced by equities research analysts at Needham & Company LLC from $7.00 to $2.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 70.94% from the company’s previous close.

Separately, Jefferies Financial Group lowered shares of Open Lending from a “buy” rating to a “hold” rating and decreased their price target for the company from $8.00 to $3.70 in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Open Lending currently has a consensus rating of “Hold” and an average target price of $5.28.

Open Lending Trading Down 57.6 %

NASDAQ:LPRO opened at $1.17 on Wednesday. The firm has a market capitalization of $139.64 million, a price-to-earnings ratio of 39.00 and a beta of 1.25. Open Lending has a 1-year low of $1.14 and a 1-year high of $6.97. The business’s 50-day moving average price is $4.82 and its two-hundred day moving average price is $5.52. 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 (NASDAQ:LPRO) last announced its quarterly 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). The firm had revenue of $24.23 million during the quarter, compared to analyst estimates of $24.03 million. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. During the same quarter in the prior year, the business earned ($0.04) earnings per share. On average, equities analysts expect that Open Lending will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Open Lending

Several large investors have recently made changes to their positions in LPRO. R Squared Ltd bought a new stake in Open Lending in the 4th quarter valued at $25,000. Quantbot Technologies LP acquired a new stake in shares of Open Lending in the 4th quarter valued at about $54,000. Quantinno Capital Management LP bought a new stake in shares of Open Lending in the third quarter valued at about $68,000. Ameriprise Financial Inc. acquired a new position in shares of Open Lending during the fourth quarter worth about $80,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Open Lending during the fourth quarter worth about $87,000. Institutional investors own 78.06% of the company’s stock.

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.