Open Lending Co. (NASDAQ:LPRO) Receives $6.56 Average PT from Analysts

Shares of Open Lending Co. (NASDAQ:LPRO) have received an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Four investment 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 $6.83.

A number of equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. DA Davidson reduced their price objective on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. JMP Securities reduced their price objective on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Finally, Morgan Stanley reduced their price target on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th.

Open Lending Stock Performance

Shares of Open Lending stock opened at $6.75 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 13.32 and a quick ratio of 13.32. The firm has a market cap of $804.94 million, a P/E ratio of 170.79 and a beta of 1.13. The firm has a 50 day simple moving average of $5.78 and a 200 day simple moving average of $5.81. Open Lending has a fifty-two week low of $4.57 and a fifty-two week high of $8.70.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Open Lending had a net margin of 6.25% and a return on equity of 2.90%. The business had revenue of $26.73 million during the quarter, compared to the consensus estimate of $31.03 million. During the same period in the previous year, the business posted $0.09 earnings per share. Open Lending’s revenue was down 29.9% compared to the same quarter last year. Sell-side analysts predict that Open Lending will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Open Lending

Institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new stake in Open Lending in the 2nd quarter valued at $33,000. Blue Trust Inc. lifted its position in Open Lending by 208.2% in the 3rd quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock valued at $59,000 after acquiring an additional 7,093 shares in the last quarter. SlateStone Wealth LLC bought a new stake in Open Lending in the 2nd quarter valued at $70,000. QRG Capital Management Inc. lifted its position in Open Lending by 24.0% in the 2nd quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after acquiring an additional 2,824 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Open Lending in the 2nd quarter valued at $110,000. 78.06% of the stock is owned by institutional investors.

About Open Lending

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.