Needham & Company LLC Issues Positive Forecast for Open Lending (NASDAQ:LPRO) Stock Price

Open Lending (NASDAQ:LPRO) had its price target increased by Needham & Company LLC from $2.00 to $2.50 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and lowered their target price for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. Citizens Jmp started coverage on Open Lending in a research report on Friday, April 4th. They set a “market perform” rating for the company. Finally, DA Davidson reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Open Lending in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Open Lending currently has a consensus rating of “Hold” and a consensus target price of $4.44.

Open Lending Price Performance

Shares of LPRO opened at $1.72 on Friday. The business has a 50-day simple moving average of $2.13 and a two-hundred day simple moving average of $4.54. Open Lending has a 12-month low of $0.70 and a 12-month high of $6.97. The stock has a market cap of $206.03 million, a PE ratio of 57.33 and a beta of 1.79. 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 released its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The company had revenue of $24.39 million during the quarter, compared to the consensus estimate of $24.78 million. Analysts anticipate that Open Lending will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Open Lending

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Open Lending by 363.5% during the 3rd quarter. Barclays PLC now owns 169,024 shares of the company’s stock worth $1,034,000 after buying an additional 132,561 shares in the last quarter. R Squared Ltd acquired a new position in shares of Open Lending during the 4th quarter valued at $25,000. Chicago Partners Investment Group LLC boosted its stake in Open Lending by 16.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 50,166 shares of the company’s stock worth $274,000 after acquiring an additional 7,166 shares in the last quarter. Rhumbline Advisers grew its holdings in Open Lending by 3.7% in the fourth quarter. Rhumbline Advisers now owns 146,101 shares of the company’s stock worth $872,000 after purchasing an additional 5,149 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Open Lending by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 311,737 shares of the company’s stock valued at $1,861,000 after purchasing an additional 8,052 shares in the last quarter. 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.