Brokerages Set Open Lending Co. (NASDAQ:LPRO) PT at $21.67

Open Lending Co. (NASDAQ:LPROGet Rating) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $21.63.

Several brokerages have commented on LPRO. Stephens downgraded shares of Open Lending from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $13.00 in a report on Friday. Raymond James dropped their target price on shares of Open Lending from $30.00 to $22.00 in a report on Friday, May 6th. JMP Securities dropped their target price on shares of Open Lending from $28.00 to $17.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 13th. Canaccord Genuity Group dropped their target price on shares of Open Lending from $55.00 to $30.00 and set a “buy” rating on the stock in a report on Friday. Finally, William Blair restated an “outperform” rating on shares of Open Lending in a report on Friday, May 6th.

Hedge Funds Weigh In On Open Lending

Several hedge funds and other institutional investors have recently made changes to their positions in LPRO. Lazard Asset Management LLC bought a new position in shares of Open Lending in the fourth quarter valued at $28,000. Point72 Hong Kong Ltd bought a new position in Open Lending during the first quarter worth $41,000. Nisa Investment Advisors LLC boosted its position in Open Lending by 182.5% during the first quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the company’s stock worth $43,000 after purchasing an additional 1,460 shares during the period. Carl Stuart Investment Advisor Inc. bought a new position in Open Lending during the first quarter worth $56,000. Finally, PNC Financial Services Group Inc. boosted its position in Open Lending by 51.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock worth $89,000 after purchasing an additional 1,591 shares during the period. 86.85% of the stock is owned by institutional investors.

Open Lending Stock Performance

Shares of NASDAQ:LPRO opened at $10.91 on Friday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 30.31 and a beta of 0.66. The firm’s 50 day simple moving average is $10.90 and its 200 day simple moving average is $14.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 17.78 and a quick ratio of 17.78. Open Lending has a fifty-two week low of $9.12 and a fifty-two week high of $42.96.

Open Lending (NASDAQ:LPROGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $52.10 million for the quarter, compared to the consensus estimate of $48.40 million. Open Lending had a net margin of 21.02% and a return on equity of 28.54%. Open Lending’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. As a group, sell-side analysts forecast that Open Lending will post 0.79 earnings per share for the current year.

Open Lending Company Profile

(Get Rating)

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and non-bank auto finance companies and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.

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Analyst Recommendations for Open Lending (NASDAQ:LPRO)

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