Open Lending (NASDAQ:LPRO) PT Lowered to $8.00 at DA Davidson

Open Lending (NASDAQ:LPRO) had its target price dropped by research analysts at DA Davidson from $9.00 to $8.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price points to a potential upside of 53.85% from the stock’s current price.

Several other equities research analysts have also recently weighed in on LPRO. JMP Securities decreased their price target on Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a research note on Friday. Morgan Stanley decreased their target price on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday. BTIG Research began coverage on shares of Open Lending in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Canaccord Genuity Group decreased their price objective on shares of Open Lending from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Finally, Needham & Company LLC downgraded shares of Open Lending from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Open Lending presently has a consensus rating of “Hold” and a consensus price target of $6.56.

Open Lending Trading Down 5.5 %

LPRO traded down $0.30 during trading on Monday, reaching $5.20. 258,500 shares of the company’s stock were exchanged, compared to its average volume of 461,581. The company has a current ratio of 13.14, a quick ratio of 13.14 and a debt-to-equity ratio of 0.65. Open Lending has a one year low of $4.57 and a one year high of $8.70. The firm has a fifty day moving average price of $5.97 and a two-hundred day moving average price of $6.28. The stock has a market capitalization of $619.66 million, a PE ratio of 47.27 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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 6.87% and a net margin of 13.31%. Open Lending’s revenue for the quarter was down 29.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. As a group, equities research analysts forecast that Open Lending will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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