Open Lending Co. (NASDAQ:LPRO) Receives $4.62 Average Target Price from Brokerages

Open Lending Co. (NASDAQ:LPRO) has been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $4.62.

A number of equities analysts recently commented on the stock. Needham & Company LLC reduced their price objective on shares of Open Lending from $7.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Citizens Jmp began coverage on Open Lending in a research report on Friday, April 4th. They issued a “market perform” rating for the company. DA Davidson reaffirmed a “buy” rating and set a $4.00 price objective on shares of Open Lending in a research report on Wednesday. Finally, Jefferies Financial Group downgraded shares of Open Lending from a “buy” rating to a “hold” rating and reduced their target price for the stock from $8.00 to $3.70 in a report on Thursday, March 20th.

Open Lending Stock Performance

Shares of Open Lending stock opened at $0.85 on Monday. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is $3.52 and its 200-day moving average price is $5.07. The firm has a market cap of $101.85 million, a P/E ratio of 28.34 and a beta of 1.57. Open Lending has a 12 month low of $0.70 and a 12 month high of $6.97.

Open Lending (NASDAQ:LPRO) last posted its earnings results on Monday, March 31st. The company reported ($1.21) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.23). Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The business had revenue of $24.23 million for the quarter, compared to analysts’ expectations of $24.03 million. During the same period last year, the business posted ($0.04) EPS. On average, equities research analysts expect that Open Lending will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Open Lending

Hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in Open Lending in the 4th quarter worth approximately $25,000. Quantbot Technologies LP purchased a new position in shares of Open Lending in the fourth quarter worth $54,000. Quantinno Capital Management LP acquired a new stake in shares of Open Lending during the third quarter worth $68,000. Ameriprise Financial Inc. purchased a new stake in shares of Open Lending during the fourth quarter valued at $80,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Open Lending in the 4th quarter valued at $87,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.