Open Lending Co. (NASDAQ:LPRO) Receives $6.56 Consensus Target Price from Analysts

Shares of Open Lending Co. (NASDAQ:LPRO) have been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.56.

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

Open Lending Stock Performance

NASDAQ:LPRO opened at $5.84 on Friday. The firm has a market capitalization of $696.42 million, a PE ratio of 146.04 and a beta of 1.13. Open Lending has a 1 year low of $4.57 and a 1 year high of $8.70. The company has a current ratio of 13.32, a quick ratio of 13.32 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $5.74 and its 200 day simple moving average is $5.78.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The business had revenue of $26.73 million for the quarter, compared to analyst estimates of $31.03 million. Open Lending had a return on equity of 2.90% and a net margin of 6.25%. Open Lending’s revenue for the quarter was down 29.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. On average, sell-side analysts anticipate that Open Lending will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in Open Lending by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company’s stock valued at $230,000 after purchasing an additional 2,631 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Open Lending by 24.0% in the 2nd quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock valued at $81,000 after acquiring an additional 2,824 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Open Lending by 7.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 43,000 shares of the company’s stock valued at $263,000 after acquiring an additional 3,000 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Open Lending in the 2nd quarter valued at approximately $33,000. Finally, Arizona State Retirement System boosted its stake in Open Lending by 32.2% during the 2nd quarter. Arizona State Retirement System now owns 28,288 shares of the company’s stock worth $158,000 after acquiring an additional 6,896 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

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.