Open Lending (LPRO) Scheduled to Post Quarterly Earnings on Tuesday

Open Lending (NASDAQ:LPRO) will be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Open Lending has set its Q1 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). The firm had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $27.55 million. Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The firm’s revenue for the quarter was down 44.4% on a year-over-year basis. During the same period last year, the business earned ($0.03) earnings per share. On average, analysts expect Open Lending to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Open Lending Price Performance

Shares of LPRO opened at $5.00 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 14.08 and a current ratio of 14.08. Open Lending has a twelve month low of $4.57 and a twelve month high of $11.99. The firm’s 50 day moving average price is $6.28 and its 200 day moving average price is $6.80. The firm has a market cap of $594.40 million, a PE ratio of 29.41 and a beta of 0.99.

Insider Buying and Selling

In other news, Director John Joseph Flynn sold 50,000 shares of Open Lending stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $7.35, for a total transaction of $367,500.00. Following the completion of the sale, the director now owns 1,993,762 shares in the company, valued at approximately $14,654,150.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LPRO shares. Canaccord Genuity Group cut their target price on shares of Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, March 26th. Morgan Stanley raised shares of Open Lending from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $4.00 to $7.00 in a research report on Tuesday, February 6th. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of Open Lending in a research report on Wednesday, February 28th. Raymond James restated an “outperform” rating and set a $8.00 price objective on shares of Open Lending in a research report on Tuesday, March 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price objective on shares of Open Lending in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $7.07.

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.