Open Lending (NASDAQ:LPRO) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of Open Lending (NASDAQ:LPRO) from a hold rating to a buy rating in a report released on Wednesday morning, MarketBeat.com reports. The firm currently has $7.00 target price on the stock.

Open Lending Stock Down 5.0 %

NASDAQ:LPRO opened at $6.05 on Wednesday. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending has a twelve month low of $4.57 and a twelve month high of $8.43. The company has a market cap of $722.07 million, a PE ratio of 201.67 and a beta of 1.16. The company’s 50 day moving average is $5.80 and its two-hundred day moving average is $5.83.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $23.48 million for the quarter, compared to analysts’ expectations of $29.46 million. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. During the same period last year, the firm earned $0.02 earnings per share. Analysts anticipate that Open Lending will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Open Lending

A number of institutional investors have recently bought and sold shares of LPRO. Wasatch Advisors LP raised its holdings in shares of Open Lending by 1.4% during the third quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock worth $101,780,000 after purchasing an additional 222,969 shares during the last quarter. State Street Corp raised its stake in shares of Open Lending by 2.6% during the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after buying an additional 63,450 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Open Lending by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock valued at $14,478,000 after buying an additional 68,721 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Open Lending by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 841,913 shares of the company’s stock worth $5,153,000 after buying an additional 31,434 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Open Lending by 9.4% during the second quarter. Sei Investments Co. now owns 532,852 shares of the company’s stock worth $2,973,000 after acquiring an additional 45,959 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

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.