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

Shares of Open Lending Co. (NASDAQ:LPRO) have been given an average rating of “Moderate Buy” by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.83.

Separately, Needham & Company LLC upgraded Open Lending from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Wednesday.

Open Lending Trading Down 5.0 %

Shares of LPRO stock opened at $6.05 on Wednesday. The stock has a market capitalization of $722.07 million, a price-to-earnings ratio of 201.67 and a beta of 1.16. Open Lending has a 12-month low of $4.57 and a 12-month high of $8.43. The stock’s 50-day moving average price is $5.80 and its 200-day moving average price is $5.83. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $23.48 million during the quarter, compared to the consensus estimate of $29.46 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. During the same period in the previous year, the business earned $0.02 EPS. Equities research analysts predict that Open Lending will post 0.1 EPS for the current fiscal year.

Institutional Trading of Open Lending

Hedge funds have recently made changes to their positions in the company. Sei Investments Co. increased its stake in shares of Open Lending by 9.4% in the second quarter. Sei Investments Co. now owns 532,852 shares of the company’s stock worth $2,973,000 after buying an additional 45,959 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Open Lending during the 2nd quarter worth approximately $33,000. The Manufacturers Life Insurance Company grew its position in shares of Open Lending by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company’s stock worth $230,000 after acquiring an additional 2,631 shares during the last quarter. Algert Global LLC increased its stake in shares of Open Lending by 3.7% in the second quarter. Algert Global LLC now owns 398,913 shares of the company’s stock valued at $2,226,000 after purchasing an additional 14,191 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Open Lending during the 2nd quarter valued at $110,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

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.