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

Open Lending (NASDAQ:LPRO) posted its quarterly earnings data 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 firm had revenue of $24.23 million for the quarter, compared to analysts’ expectations of $24.03 million. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. During the same quarter last year, the company posted ($0.04) EPS.

Open Lending Price Performance

NASDAQ:LPRO traded down $0.04 on Monday, reaching $2.76. 3,253,224 shares of the company’s stock traded hands, compared to its average volume of 461,013. The stock has a 50-day simple moving average of $4.94 and a 200-day simple moving average of $5.57. The firm has a market cap of $329.41 million, a PE ratio of 92.00 and a beta of 1.25. Open Lending has a 12 month low of $2.25 and a 12 month high of $6.97. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LPRO shares. Needham & Company LLC raised shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, January 29th. Jefferies Financial Group downgraded shares of Open Lending from a “buy” rating to a “hold” rating and decreased their price target for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.12.

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.