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. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The company had revenue of $24.23 million for the quarter, compared to the consensus estimate of $24.03 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share.

Open Lending Stock Down 57.6 %

Shares of NASDAQ:LPRO opened at $1.17 on Wednesday. Open Lending has a 1 year low of $1.14 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 stock’s 50-day moving average is $4.82 and its 200 day moving average is $5.52. The company has a market cap of $139.64 million, a PE ratio of 39.00 and a beta of 1.25.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LPRO shares. Jefferies Financial Group downgraded shares of Open Lending from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $8.00 to $3.70 in a report on Thursday, March 20th. Needham & Company LLC reduced their price target on shares of Open Lending from $7.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.28.

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.