Open Lending FY2024 EPS Forecast Reduced by Northland Capmk

Open Lending Co. (NASDAQ:LPRO) – Investment analysts at Northland Capmk reduced their FY2024 earnings per share estimates for Open Lending in a report released on Friday, November 8th. Northland Capmk analyst M. Grondahl now expects that the company will earn $0.11 per share for the year, down from their previous estimate of $0.19. The consensus estimate for Open Lending’s current full-year earnings is $0.13 per share. Northland Capmk also issued estimates for Open Lending’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.08 EPS and FY2025 earnings at $0.26 EPS.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). Open Lending had a net margin of 4.78% and a return on equity of 2.17%. The company had revenue of $26.73 million during the quarter, compared to the consensus estimate of $31.03 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The business’s revenue was down 29.9% on a year-over-year basis.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. JMP Securities lowered their price objective on Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Morgan Stanley cut their target price on Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Finally, DA Davidson lowered their target price on Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.83.

Open Lending Stock Down 12.6 %

Shares of NASDAQ LPRO opened at $5.90 on Monday. The company’s 50 day moving average price is $5.81 and its 200-day moving average price is $5.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 13.32 and a current ratio of 13.32. Open Lending has a 52-week low of $4.57 and a 52-week high of $8.70. The company has a market capitalization of $703.58 million, a P/E ratio of 196.67 and a beta of 1.13.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Open Lending by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 230,974 shares of the company’s stock valued at $1,446,000 after acquiring an additional 22,139 shares in the last quarter. Sei Investments Co. increased its stake in Open Lending by 14.5% during the 1st quarter. Sei Investments Co. now owns 486,893 shares of the company’s stock valued at $3,048,000 after purchasing an additional 61,647 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Open Lending by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company’s stock valued at $67,337,000 after purchasing an additional 51,276 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Open Lending by 24.0% during the second quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock worth $81,000 after buying an additional 2,824 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Open Lending by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 386,306 shares of the company’s stock valued at $2,156,000 after buying an additional 41,792 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

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.