Open Lending Co. (NASDAQ:LPRO) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Open Lending Co. (NASDAQ:LPRO – Get Rating) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.89.

LPRO has been the subject of several recent research reports. DA Davidson lowered their target price on shares of Open Lending from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, February 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Open Lending from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, February 24th. JMP Securities reiterated a “market outperform” rating and set a $10.00 target price on shares of Open Lending in a research note on Tuesday, January 31st. Morgan Stanley lowered their target price on shares of Open Lending from $5.50 to $5.00 and set an “underweight” rating for the company in a research note on Friday, February 24th. Finally, Canaccord Genuity Group lowered their target price on shares of Open Lending from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, February 21st.

Open Lending Stock Down 2.6 %

Shares of NASDAQ:LPRO opened at $6.66 on Friday. The company has a current ratio of 18.58, a quick ratio of 18.58 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $8.04 and a 200 day simple moving average of $7.74. The firm has a market cap of $823.76 million, a PE ratio of 12.81 and a beta of 0.78. Open Lending has a 12-month low of $5.35 and a 12-month high of $20.72.

Open Lending (NASDAQ:LPRO – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). Open Lending had a return on equity of 31.84% and a net margin of 37.10%. The company had revenue of $26.82 million during the quarter, compared to the consensus estimate of $34.51 million. During the same quarter last year, the firm posted $0.23 EPS. The firm’s quarterly revenue was down 48.1% on a year-over-year basis. On average, equities research analysts anticipate that Open Lending will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Open Lending

Several hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System boosted its holdings in shares of Open Lending by 3.8% during the fourth quarter. Arizona State Retirement System now owns 30,275 shares of the company’s stock valued at $204,000 after acquiring an additional 1,120 shares during the period. Prudential Financial Inc. lifted its holdings in Open Lending by 10.2% in the second quarter. Prudential Financial Inc. now owns 13,986 shares of the company’s stock worth $143,000 after purchasing an additional 1,300 shares during the period. Lazard Asset Management LLC lifted its holdings in Open Lending by 113.3% in the second quarter. Lazard Asset Management LLC now owns 2,701 shares of the company’s stock worth $27,000 after purchasing an additional 1,435 shares during the period. Skylands Capital LLC lifted its holdings in Open Lending by 1.5% in the third quarter. Skylands Capital LLC now owns 99,200 shares of the company’s stock worth $798,000 after purchasing an additional 1,500 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Open Lending by 51.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock worth $89,000 after purchasing an additional 1,591 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

About Open Lending

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Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). It specializes in risk-based pricing and modeling and provides automated decision-technology for automotive lenders throughout the United States.