Open Lending (NASDAQ:LPRO) Downgraded by Stephens

Stephens downgraded shares of Open Lending (NASDAQ:LPROGet Rating) from an overweight rating to an equal weight rating in a report issued on Friday morning, Marketbeat.com reports. Stephens currently has $13.00 target price on the stock, down from their previous target price of $22.00.

Several other analysts also recently issued reports on the stock. JMP Securities reduced their price target on shares of Open Lending from $28.00 to $17.00 and set a market outperform rating for the company in a research report on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Open Lending from $18.00 to $16.00 in a research report on Thursday, July 28th. Morgan Stanley downgraded shares of Open Lending from an equal weight rating to an underweight rating and cut their price objective for the stock from $14.00 to $8.00 in a report on Wednesday. William Blair reaffirmed an outperform rating on shares of Open Lending in a report on Friday, May 6th. Finally, Raymond James cut their price objective on shares of Open Lending from $30.00 to $22.00 in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $21.63.

Open Lending Stock Performance

Shares of LPRO stock opened at $10.91 on Friday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 30.31 and a beta of 0.66. Open Lending has a 52 week low of $9.12 and a 52 week high of $42.96. The company has a quick ratio of 17.78, a current ratio of 17.78 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $10.90 and a 200-day moving average of $14.83.

Open Lending (NASDAQ:LPROGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Open Lending had a net margin of 21.02% and a return on equity of 28.54%. The company had revenue of $52.10 million during the quarter, compared to the consensus estimate of $48.40 million. During the same quarter last year, the firm posted $0.25 EPS. The company’s quarterly revenue was down 14.7% on a year-over-year basis. On average, equities analysts forecast that Open Lending will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On Open Lending

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in Open Lending in the 4th quarter valued at about $28,000. Point72 Hong Kong Ltd purchased a new position in Open Lending during the 1st quarter valued at about $41,000. Nisa Investment Advisors LLC grew its holdings in Open Lending by 182.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the company’s stock valued at $43,000 after buying an additional 1,460 shares in the last quarter. Carl Stuart Investment Advisor Inc. purchased a new position in Open Lending during the 1st quarter valued at about $56,000. Finally, Aaron Wealth Advisors LLC purchased a new position in Open Lending during the 1st quarter valued at about $219,000. 86.85% of the stock is currently owned by institutional investors.

Open Lending Company Profile

(Get Rating)

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and non-bank auto finance companies and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.

See Also

Analyst Recommendations for Open Lending (NASDAQ:LPRO)

Receive News & Ratings for Open Lending Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Open Lending and related companies with MarketBeat.com's FREE daily email newsletter.