Northland Capmk Reduces Earnings Estimates for Open Lending

Open Lending Co. (NASDAQ:LPRO) – Equities researchers at Northland Capmk reduced their FY2024 EPS estimates for shares of Open Lending in a research report issued on Friday, November 8th. Northland Capmk analyst M. Grondahl now anticipates that the company will post earnings per share of $0.11 for the year, down from their prior forecast of $0.19. The consensus estimate for Open Lending’s current full-year earnings is $0.13 per share. Northland Capmk also issued estimates for Open Lending’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.08 EPS and FY2025 earnings at $0.26 EPS.

Several other research firms have also issued reports on LPRO. Needham & Company LLC restated a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd. DA Davidson lowered their target price on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 12th. JMP Securities lowered their target price on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley lowered their target price on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.83.

Open Lending Price Performance

Open Lending stock opened at $6.30 on Monday. The firm has a 50-day moving average price of $5.82 and a 200-day moving average price of $5.85. The firm has a market capitalization of $751.28 million, a PE ratio of 212.17 and a beta of 1.13. The company has a current ratio of 13.32, a quick ratio of 13.32 and a debt-to-equity ratio of 0.63. Open Lending has a 12-month low of $4.57 and a 12-month high of $8.70.

Institutional Investors Weigh In On Open Lending

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPRO. Cubist Systematic Strategies LLC bought a new stake in shares of Open Lending in the 2nd quarter valued at about $33,000. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 7,093 shares in the last quarter. SlateStone Wealth LLC bought a new stake in shares of Open Lending in the 2nd quarter valued at about $70,000. QRG Capital Management Inc. raised its holdings in shares of 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 purchasing an additional 2,824 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Open Lending in the 3rd quarter valued at about $91,000. Institutional investors own 78.06% of the company’s stock.

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.