Wall Street brokerages expect Open Lending Co. (NASDAQ:LPRO) to post earnings per share of $0.15 for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Open Lending’s earnings. The highest EPS estimate is $0.18 and the lowest is $0.11. The firm is scheduled to announce its next quarterly earnings report on Tuesday, June 8th.
According to Zacks, analysts expect that Open Lending will report full year earnings of $0.77 per share for the current year, with EPS estimates ranging from $0.69 to $0.85. For the next year, analysts expect that the company will post earnings of $1.18 per share, with EPS estimates ranging from $0.97 to $1.35. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Open Lending.
Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Monday, March 8th. The company reported $0.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.12. The company had revenue of $39.63 million during the quarter, compared to analysts’ expectations of $34.03 million. During the same period in the prior year, the firm earned ($1.19) EPS. Open Lending’s quarterly revenue was up 52.0% on a year-over-year basis.
A number of equities research analysts have recently weighed in on LPRO shares. Canaccord Genuity boosted their price objective on shares of Open Lending from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, March 17th. Zacks Investment Research lowered shares of Open Lending from a “buy” rating to a “hold” rating in a report on Tuesday, February 23rd. Needham & Company LLC started coverage on shares of Open Lending in a report on Wednesday, February 10th. They issued a “buy” rating and a $50.00 price objective for the company. Raymond James boosted their price objective on shares of Open Lending from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, March 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Open Lending from $35.00 to $50.00 in a report on Monday, December 14th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $41.42.
LPRO stock traded up $0.39 during midday trading on Friday, reaching $38.99. The company had a trading volume of 20,779 shares, compared to its average volume of 1,144,911. The company has a debt-to-equity ratio of 4.50, a current ratio of 11.97 and a quick ratio of 11.97. Open Lending has a 1 year low of $12.70 and a 1 year high of $43.00. The firm has a 50-day moving average price of $38.34 and a 200-day moving average price of $33.07.
Several large investors have recently added to or reduced their stakes in LPRO. BlackRock Inc. purchased a new stake in shares of Open Lending in the 3rd quarter worth about $19,229,000. Sei Investments Co. grew its position in Open Lending by 65.7% during the 3rd quarter. Sei Investments Co. now owns 36,565 shares of the company’s stock valued at $932,000 after purchasing an additional 14,492 shares during the last quarter. State Street Corp purchased a new stake in Open Lending during the 3rd quarter valued at about $933,000. Arrowstreet Capital Limited Partnership grew its position in Open Lending by 255.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 522,238 shares of the company’s stock valued at $13,317,000 after purchasing an additional 375,505 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Open Lending during the 3rd quarter valued at about $7,152,000. 33.48% of the stock is currently owned by hedge funds and other institutional investors.
About Open Lending
Open Lending Corporation provides lending enablement and risk analytics solutions to financial institutions in the United States. The company, through its flagship product, Lenders Protection, offers loan analytics, risk-based pricing, risk modeling, and default insurance, ensuring profitable auto loan portfolios for financial institutions.
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