Open Lending (NASDAQ:LPRO) Releases Earnings Results, Misses Expectations By $1.23 EPS

Open Lending (NASDAQ:LPRO) announced its earnings results on Monday. The company reported ($1.21) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.23), Briefing.com reports. The company had revenue of $24.23 million during the quarter, compared to the consensus estimate 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 business posted ($0.04) earnings per share.

Open Lending Stock Performance

NASDAQ:LPRO opened at $1.15 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. The stock’s fifty day moving average is $4.82 and its 200 day moving average is $5.52. The firm has a market capitalization of $137.13 million, a PE ratio of 38.00 and a beta of 1.25. Open Lending has a fifty-two week low of $1.12 and a fifty-two week high of $6.97.

Wall Street Analyst Weigh In

LPRO has been the subject of a number of analyst reports. Jefferies Financial Group cut Open Lending from a “buy” rating to a “hold” rating and reduced their price target for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. DA Davidson reduced their target price on shares of Open Lending from $8.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Needham & Company LLC decreased their target price on shares of Open Lending from $7.00 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.62.

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.