Open Lending (NASDAQ:LPRO) Given New $4.00 Price Target at DA Davidson

Open Lending (NASDAQ:LPRO) had its price objective cut by DA Davidson from $8.00 to $4.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group cut shares of Open Lending from a “buy” rating to a “hold” rating and reduced their price target for the company from $8.00 to $3.70 in a research report on Thursday, March 20th. Needham & Company LLC reduced their target price on Open Lending from $7.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.62.

Open Lending Stock Up 9.4 %

Shares of Open Lending stock opened at $1.28 on Wednesday. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending has a 52-week low of $1.11 and a 52-week high of $6.97. The company has a market capitalization of $152.77 million, a P/E ratio of 42.67 and a beta of 1.25. The company has a 50 day moving average of $4.74 and a 200 day moving average of $5.49.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Monday, March 31st. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($1.23). The business had revenue of $24.23 million for the quarter, compared to analyst estimates of $24.03 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. During the same period in the prior year, the company posted ($0.04) earnings per share. As a group, research analysts forecast that Open Lending will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Open Lending

Large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Open Lending by 20.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 202,743 shares of the company’s stock worth $1,210,000 after acquiring an additional 34,740 shares during the period. ProShare Advisors LLC grew its stake in shares of Open Lending by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 28,777 shares of the company’s stock worth $172,000 after purchasing an additional 9,468 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Open Lending by 69.2% in the 4th quarter. Quantinno Capital Management LP now owns 18,736 shares of the company’s stock valued at $112,000 after purchasing an additional 7,664 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Open Lending by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 149,098 shares of the company’s stock valued at $890,000 after purchasing an additional 5,264 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Open Lending by 52.2% during the fourth quarter. Deutsche Bank AG now owns 95,160 shares of the company’s stock worth $568,000 after buying an additional 32,634 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other 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.