Open Lending (NASDAQ:LPRO) Issues Earnings Results

Open Lending (NASDAQ:LPRO) announced its quarterly earnings results on Monday. The company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($1.23), Briefing.com reports. The business had revenue of $24.23 million during the quarter, compared to analysts’ expectations of $24.03 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 company posted ($0.04) EPS.

Open Lending Stock Down 1.8 %

Shares of NASDAQ LPRO opened at $1.15 on Wednesday. The company has a 50 day simple moving average of $4.82 and a 200-day simple moving average of $5.52. Open Lending has a 1 year low of $1.12 and a 1 year high of $6.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The company has a market capitalization of $137.13 million, a P/E ratio of 38.00 and a beta of 1.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group downgraded shares of Open Lending from a “buy” rating to a “hold” rating and reduced their target price for the stock from $8.00 to $3.70 in a report on Thursday, March 20th. DA Davidson reduced their price objective on shares of Open Lending from $8.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Needham & Company LLC lowered their price target on Open Lending from $7.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Open Lending presently has a consensus rating of “Hold” and an average target price of $4.62.

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.