Zacks: Brokerages Expect Open Lending Co. (NASDAQ:LPRO) Will Post Quarterly Sales of $41.53 Million


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Analysts expect Open Lending Co. (NASDAQ:LPRO) to announce sales of $41.53 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Open Lending’s earnings, with the lowest sales estimate coming in at $36.35 million and the highest estimate coming in at $48.10 million. The business is expected to report its next earnings report on Tuesday, June 8th.

On average, analysts expect that Open Lending will report full year sales of $211.04 million for the current financial year, with estimates ranging from $194.90 million to $221.50 million. For the next year, analysts expect that the company will report sales of $300.13 million, with estimates ranging from $262.60 million to $337.20 million. Zacks’ sales averages are an average based on a survey of analysts that follow Open Lending.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings data on Monday, March 8th. The company reported $0.12 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.12. The company had revenue of $39.63 million during the quarter, compared to analyst estimates of $34.03 million. The business’s revenue for the quarter was up 52.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.19) earnings per share.

Several analysts have recently commented on the company. Northland Securities raised their target price on Open Lending from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, March 10th. Canaccord Genuity raised their price target on shares of Open Lending from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, March 17th. Needham & Company LLC assumed coverage on shares of Open Lending in a research report on Wednesday, February 10th. They issued a “buy” rating and a $50.00 price target on the stock. Zacks Investment Research cut shares of Open Lending from a “buy” rating to a “hold” rating in a research report on Tuesday, February 23rd. Finally, DA Davidson raised their price target on shares of Open Lending from $31.00 to $45.00 in a research note on Wednesday, January 20th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $41.42.

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. bought a new stake in Open Lending in the third quarter worth $7,152,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Open Lending during the third quarter valued at about $758,000. Penserra Capital Management LLC raised its stake in shares of Open Lending by 1,047.2% during the fourth quarter. Penserra Capital Management LLC now owns 51,395 shares of the company’s stock valued at $1,796,000 after acquiring an additional 46,915 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Open Lending by 139.2% during the fourth quarter. Squarepoint Ops LLC now owns 24,982 shares of the company’s stock valued at $873,000 after acquiring an additional 14,536 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Open Lending by 65.7% during the third quarter. Sei Investments Co. now owns 36,565 shares of the company’s stock valued at $932,000 after buying an additional 14,492 shares during the period. 33.48% of the stock is owned by institutional investors and hedge funds.

Shares of LPRO traded up $0.39 during trading hours on Monday, hitting $38.99. The stock had a trading volume of 20,779 shares, compared to its average volume of 1,144,911. The company has a debt-to-equity ratio of 4.50, a quick ratio of 11.97 and a current ratio of 11.97. The firm has a 50 day simple moving average of $38.34 and a 200-day simple moving average of $33.07. Open Lending has a 1-year low of $12.70 and a 1-year high of $43.00.

About Open Lending

Open Lending Corporation provides lending enablement and risk analytics solutions to financial institutions in the United States. The company, through its flagship product, Lenders Protection, offers loan analytics, risk-based pricing, risk modeling, and default insurance, ensuring profitable auto loan portfolios for financial institutions.

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Earnings History and Estimates for Open Lending (NASDAQ:LPRO)

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