Analysts Set Open Lending Co. (NASDAQ:LPRO) Target Price at $6.79

Open Lending Co. (NASDAQ:LPRO) has been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $6.79.

LPRO has been the subject of several analyst reports. Canaccord Genuity Group decreased their price objective on Open Lending from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Raymond James reaffirmed an “outperform” rating and set a $8.00 price objective on shares of Open Lending in a research note on Tuesday, March 26th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Open Lending in a research note on Tuesday, March 26th. Needham & Company LLC dropped their price target on shares of Open Lending from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, BTIG Research started coverage on shares of Open Lending in a research report on Friday, June 7th. They issued a “neutral” rating for the company.

Open Lending Trading Down 0.5 %

Shares of NASDAQ:LPRO opened at $5.52 on Friday. The business has a 50-day moving average price of $5.97 and a 200-day moving average price of $6.65. The stock has a market cap of $657.82 million, a price-to-earnings ratio of 50.19 and a beta of 1.12. Open Lending has a 52-week low of $4.57 and a 52-week high of $11.73. The company has a quick ratio of 13.14, a current ratio of 13.14 and a debt-to-equity ratio of 0.65.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Open Lending had a net margin of 13.31% and a return on equity of 6.87%. The business had revenue of $30.75 million during the quarter, compared to analysts’ expectations of $28.65 million. During the same period last year, the company earned $0.10 earnings per share. The firm’s revenue was down 19.9% on a year-over-year basis. Equities analysts predict that Open Lending will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Open Lending

Several institutional investors have recently bought and sold shares of the company. Cannell Capital LLC raised its holdings in shares of Open Lending by 55.4% during the fourth quarter. Cannell Capital LLC now owns 2,646,831 shares of the company’s stock valued at $22,525,000 after acquiring an additional 943,429 shares during the last quarter. Working Capital Advisors UK Ltd. lifted its holdings in Open Lending by 10.2% in the 4th quarter. Working Capital Advisors UK Ltd. now owns 7,088,535 shares of the company’s stock valued at $60,323,000 after purchasing an additional 658,240 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Open Lending by 3.5% in the 1st quarter. Wasatch Advisors LP now owns 16,094,115 shares of the company’s stock valued at $100,749,000 after purchasing an additional 546,166 shares in the last quarter. Cetera Trust Company N.A acquired a new stake in Open Lending during the 4th quarter worth $2,617,000. Finally, G2 Investment Partners Management LLC purchased a new stake in shares of Open Lending during the fourth quarter worth $1,702,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.