Open Lending’s (LPRO) Buy Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Open Lending (NASDAQ:LPRO) in a research note issued to investors on Tuesday,Benzinga reports. DA Davidson currently has a $4.00 target price on the stock.

A number of other research firms also recently commented on LPRO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Open Lending in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $2.80 price objective (up from $2.50) on shares of Open Lending in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.92.

Open Lending Trading Down 2.4%

LPRO stock opened at $1.62 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 5.59 and a quick ratio of 5.59. Open Lending has a 1-year low of $0.70 and a 1-year high of $6.75. The business has a 50 day simple moving average of $1.99 and a two-hundred day simple moving average of $2.04. The company has a market capitalization of $191.44 million, a price-to-earnings ratio of -1.30 and a beta of 1.97.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $24.17 million during the quarter, compared to the consensus estimate of $22.15 million. Research analysts anticipate that Open Lending will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Open Lending

Institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new position in shares of Open Lending during the 1st quarter valued at approximately $32,000. R Squared Ltd bought a new stake in Open Lending in the second quarter worth $28,000. Prudential Financial Inc. purchased a new position in Open Lending during the second quarter worth $28,000. Teacher Retirement System of Texas bought a new position in Open Lending during the first quarter valued at $41,000. Finally, Brighton Jones LLC purchased a new stake in shares of Open Lending in the second quarter valued at $30,000. 78.06% of the stock is owned by institutional investors.

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.