Brokerages Set Open Lending Co. (NASDAQ:LPRO) PT at $6.79

Shares of Open Lending Co. (NASDAQ:LPRO) have received an average rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $6.79.

A number of research analysts have recently issued reports on the stock. Raymond James reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of Open Lending in a research report on Tuesday, March 26th. Needham & Company LLC reduced their price target on Open Lending from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Canaccord Genuity Group dropped their target price on Open Lending from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. BTIG Research began coverage on Open Lending in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Finally, JMP Securities restated a “market outperform” rating and set a $8.00 price target on shares of Open Lending in a research note on Tuesday, March 26th.

Institutional Trading of Open Lending

Institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Trust Company N.A acquired a new stake in Open Lending during the fourth quarter worth about $2,617,000. G2 Investment Partners Management LLC purchased a new stake in Open Lending in the 4th quarter worth approximately $1,702,000. Raymond James & Associates grew its stake in shares of Open Lending by 5.9% during the 4th quarter. Raymond James & Associates now owns 839,990 shares of the company’s stock worth $7,148,000 after purchasing an additional 46,432 shares during the period. Vanguard Group Inc. increased its holdings in shares of Open Lending by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,427,552 shares of the company’s stock valued at $69,010,000 after purchasing an additional 174,115 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Open Lending by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 776,264 shares of the company’s stock valued at $6,606,000 after purchasing an additional 9,957 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Open Lending Price Performance

NASDAQ LPRO opened at $5.56 on Friday. The company has a market cap of $662.56 million, a PE ratio of 50.55 and a beta of 1.12. Open Lending has a 52-week low of $4.57 and a 52-week high of $11.73. The company has a debt-to-equity ratio of 0.65, a quick ratio of 13.14 and a current ratio of 13.14. The firm’s 50 day moving average price is $5.93 and its 200-day moving average price is $6.70.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $30.75 million during the quarter, compared to analysts’ expectations of $28.65 million. Open Lending had a net margin of 13.31% and a return on equity of 6.87%. The company’s revenue was down 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. Sell-side analysts forecast that Open Lending will post 0.22 EPS for the current fiscal year.

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.