Open Lending Co. (NASDAQ:LPRO) Receives $6.83 Average Target Price from Analysts

Open Lending Co. (NASDAQ:LPRO) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.83.

Separately, Needham & Company LLC upgraded shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, January 29th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP increased its stake in shares of Open Lending by 152.1% during the 3rd quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock valued at $2,948,000 after acquiring an additional 290,602 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Open Lending by 1.4% during the 3rd quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock valued at $101,780,000 after acquiring an additional 222,969 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Open Lending during the 3rd quarter valued at about $1,153,000. Main Management ETF Advisors LLC acquired a new position in shares of Open Lending during the 3rd quarter valued at about $845,000. Finally, Barclays PLC increased its stake in shares of Open Lending by 363.5% during the 3rd quarter. Barclays PLC now owns 169,024 shares of the company’s stock valued at $1,034,000 after acquiring an additional 132,561 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Open Lending Stock Down 5.0 %

Shares of NASDAQ:LPRO opened at $6.05 on Wednesday. The firm’s 50 day moving average price is $5.79 and its 200 day moving average price is $5.82. The stock has a market cap of $722.07 million, a price-to-earnings ratio of 201.67 and a beta of 1.16. Open Lending has a fifty-two week low of $4.57 and a fifty-two week high of $8.43. 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 (NASDAQ:LPRO) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $23.48 million during 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 quarter in the prior year, the company earned $0.02 earnings per share. As a group, equities research analysts predict that Open Lending will post 0.1 earnings per share for the current fiscal year.

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.