Open Lending Co. (NASDAQ:LPRO) Receives $4.34 Consensus PT from Analysts

Open Lending Co. (NASDAQ:LPRO) has earned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $4.44.

LPRO has been the subject of a number of research analyst reports. Jefferies Financial Group cut Open Lending from a “buy” rating to a “hold” rating and reduced their price target for the stock from $8.00 to $3.70 in a report on Thursday, March 20th. Citizens Jmp initiated coverage on Open Lending in a report on Friday, April 4th. They set a “market perform” rating for the company. DA Davidson reiterated a “buy” rating and set a $4.00 price target on shares of Open Lending in a report on Wednesday, April 16th. Finally, Needham & Company LLC lifted their price target on Open Lending from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Friday, May 9th.

Open Lending Price Performance

Shares of NASDAQ LPRO opened at $2.00 on Friday. The stock has a market capitalization of $239.57 million, a price-to-earnings ratio of 66.67 and a beta of 1.79. The business has a 50-day moving average of $2.02 and a 200-day moving average of $4.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. Open Lending has a fifty-two week low of $0.70 and a fifty-two week high of $6.97.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $24.39 million during the quarter, compared to analysts’ expectations of $24.78 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. As a group, sell-side analysts predict that Open Lending will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Open Lending

Hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in Open Lending during the fourth quarter worth approximately $25,000. Summit Securities Group LLC acquired a new stake in Open Lending during the first quarter worth approximately $32,000. Teacher Retirement System of Texas acquired a new stake in Open Lending during the first quarter worth approximately $41,000. Quantbot Technologies LP acquired a new stake in Open Lending during the fourth quarter worth approximately $54,000. Finally, Aigen Investment Management LP acquired a new stake in Open Lending during the first quarter worth approximately $60,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.