Needham & Company LLC Issues Positive Forecast for Open Lending (NASDAQ:LPRO) Stock Price

Open Lending (NASDAQ:LPRO) had its target price increased by Needham & Company LLC from $2.00 to $2.50 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Citizens Jmp assumed coverage on shares of Open Lending in a research report on Friday, April 4th. They set a “market perform” rating for the company. Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $8.00 to $3.70 in a research note on Thursday, March 20th. Finally, DA Davidson restated a “buy” rating and issued a $4.00 price target on shares of Open Lending in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.44.

Open Lending Stock Down 6.5%

LPRO opened at $1.72 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The company has a market capitalization of $206.03 million, a PE ratio of 57.33 and a beta of 1.79. Open Lending has a fifty-two week low of $0.70 and a fifty-two week high of $6.97. The business has a 50-day moving average of $2.13 and a 200-day moving average of $4.53.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm 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%. Equities research analysts forecast that Open Lending will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Open Lending

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Open Lending during the 4th quarter worth approximately $4,326,000. Royce & Associates LP increased its stake in Open Lending by 61.3% in the fourth quarter. Royce & Associates LP now owns 777,035 shares of the company’s stock valued at $4,639,000 after purchasing an additional 295,395 shares in the last quarter. Barclays PLC raised its holdings in Open Lending by 8.4% in the fourth quarter. Barclays PLC now owns 183,270 shares of the company’s stock worth $1,094,000 after purchasing an additional 14,246 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Open Lending by 7.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock worth $75,554,000 after purchasing an additional 920,630 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Open Lending by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock valued at $60,768,000 after buying an additional 160,617 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.