Brokerages Set Open Lending Co. (NASDAQ:LPRO) Target Price at $6.83

Open Lending Co. (NASDAQ:LPRO) has earned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.83.

A number of brokerages recently weighed in on LPRO. DA Davidson decreased their price target on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd. Morgan Stanley reduced their price objective on Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, JMP Securities lowered their target price on Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th.

Open Lending Price Performance

Shares of NASDAQ LPRO opened at $6.40 on Tuesday. 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 has a market cap of $763.84 million, a P/E ratio of 213.33, a P/E/G ratio of 2.79 and a beta of 1.13. The stock has a 50 day moving average of $6.01 and a two-hundred day moving average of $5.94. Open Lending has a twelve month low of $4.57 and a twelve month high of $8.70.

Hedge Funds Weigh In On Open Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its holdings in shares of Open Lending by 1.4% in the 3rd quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock valued at $101,780,000 after buying an additional 222,969 shares during the period. Price T Rowe Associates Inc. MD raised its position in Open Lending by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company’s stock worth $67,337,000 after acquiring an additional 51,276 shares in the last quarter. State Street Corp lifted its holdings in Open Lending by 2.6% in the third quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after acquiring an additional 63,450 shares during the period. Geode Capital Management LLC boosted its position in shares of Open Lending by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock worth $14,478,000 after purchasing an additional 68,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Open Lending by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 841,913 shares of the company’s stock worth $5,153,000 after purchasing an additional 31,434 shares during the period. 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.