Open Lending (NASDAQ:LPRO) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Open Lending (NASDAQ:LPRO) released its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01), Briefing.com reports. The business had revenue of $30.75 million during the quarter, compared to analyst estimates of $28.65 million. Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The business’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share.

Open Lending Trading Up 2.1 %

NASDAQ LPRO traded up $0.11 on Wednesday, reaching $5.40. The company had a trading volume of 152,394 shares, compared to its average volume of 450,028. The firm has a market cap of $641.95 million, a price-to-earnings ratio of 31.12 and a beta of 1.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.08 and a quick ratio of 14.08. Open Lending has a fifty-two week low of $4.57 and a fifty-two week high of $11.99. The business has a 50 day moving average of $6.00 and a two-hundred day moving average of $6.75.

Insiders Place Their Bets

In other news, Director John Joseph Flynn sold 50,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $7.35, for a total value of $367,500.00. Following the completion of the sale, the director now owns 1,993,762 shares of the company’s stock, valued at $14,654,150.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LPRO. Raymond James restated an “outperform” rating and issued a $8.00 price target on shares of Open Lending in a research note on Tuesday, March 26th. Canaccord Genuity Group cut their target price on shares of Open Lending from $7.50 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, March 26th. Needham & Company LLC decreased their target price on shares of Open Lending from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price target on shares of Open Lending in a research note on Tuesday, March 26th. Finally, Morgan Stanley raised Open Lending from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $4.00 to $7.00 in a report on Tuesday, February 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.93.

Open Lending Company Profile

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.