Open Lending Co. (NASDAQ:LPRO) Receives $7.07 Consensus Price Target from Analysts

Open Lending Co. (NASDAQ:LPRO) has earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $7.07.

Several analysts have recently weighed in on the company. Raymond James restated an “outperform” rating and set a $8.00 price target on shares of Open Lending in a report on Tuesday, March 26th. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of Open Lending in a report on Wednesday, February 28th. Canaccord Genuity Group dropped their price target on shares of Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, March 26th. Morgan Stanley raised shares of Open Lending from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $8.00 target price on shares of Open Lending in a research report on Tuesday, March 26th.

Open Lending Price Performance

LPRO stock opened at $4.76 on Monday. Open Lending has a 1 year low of $4.75 and a 1 year high of $11.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.08 and a quick ratio of 14.08. The stock has a market cap of $565.87 million, a price-to-earnings ratio of 28.00 and a beta of 0.99. The company has a 50 day simple moving average of $6.76 and a 200 day simple moving average of $6.91.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The company had revenue of $14.90 million for the quarter, compared to analyst estimates of $27.55 million. During the same quarter last year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was down 44.4% on a year-over-year basis. Research analysts anticipate that Open Lending will post 0.28 EPS for the current fiscal year.

Insider Activity at Open Lending

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $7.60, for a total transaction of $380,000.00. Following the completion of the sale, the director now directly owns 2,129,666 shares in the company, valued at approximately $16,185,461.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 150,000 shares of company stock worth $1,110,000 over the last quarter. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Open Lending

Several institutional investors and hedge funds have recently made changes to their positions in LPRO. Quarry LP bought a new position in shares of Open Lending during the 2nd quarter worth approximately $29,000. Point72 Hong Kong Ltd bought a new position in Open Lending during the first quarter worth $41,000. Envestnet Asset Management Inc. acquired a new stake in Open Lending in the first quarter worth $78,000. QRG Capital Management Inc. bought a new stake in Open Lending in the third quarter valued at $84,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Open Lending by 58.8% during the third quarter. Tower Research Capital LLC TRC now owns 10,599 shares of the company’s stock valued at $85,000 after purchasing an additional 3,923 shares during the period. 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.