DA Davidson Issues Pessimistic Forecast for Open Lending (NASDAQ:LPRO) Stock Price

Open Lending (NASDAQ:LPRO) had its price objective decreased by DA Davidson from $8.00 to $4.00 in a report published on Wednesday morning,Benzinga reports. DA Davidson currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on LPRO. Needham & Company LLC cut 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. Jefferies Financial Group lowered shares of Open Lending from a “buy” rating to a “hold” rating and reduced their target price for the company from $8.00 to $3.70 in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Open Lending currently has a consensus rating of “Hold” and a consensus price target of $4.62.

Open Lending Price Performance

Shares of NASDAQ LPRO opened at $1.28 on Wednesday. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $4.74 and its 200 day moving average price is $5.49. Open Lending has a 52 week low of $1.11 and a 52 week high of $6.97. The stock has a market cap of $152.77 million, a price-to-earnings ratio of 42.67 and a beta of 1.25.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Monday, March 31st. The company reported ($1.21) EPS for the quarter, missing the consensus estimate of $0.02 by ($1.23). Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The business had revenue of $24.23 million during the quarter, compared to analyst estimates of $24.03 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. As a group, research analysts forecast that Open Lending will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LPRO. Invesco Ltd. grew its holdings in Open Lending by 1.5% in the fourth quarter. Invesco Ltd. now owns 157,318 shares of the company’s stock valued at $939,000 after purchasing an additional 2,287 shares during the period. LPL Financial LLC grew its stake in shares of Open Lending by 4.2% during the 4th quarter. LPL Financial LLC now owns 82,461 shares of the company’s stock valued at $492,000 after buying an additional 3,309 shares during the period. Federated Hermes Inc. increased its holdings in shares of Open Lending by 4.3% during the 4th quarter. Federated Hermes Inc. now owns 97,379 shares of the company’s stock worth $581,000 after buying an additional 4,059 shares during the last quarter. R Squared Ltd purchased a new position in shares of Open Lending in the 4th quarter worth $25,000. Finally, Two Sigma Securities LLC boosted its holdings in Open Lending by 26.9% in the fourth quarter. Two Sigma Securities LLC now owns 23,401 shares of the company’s stock valued at $140,000 after acquiring an additional 4,962 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

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.