Brokerages Set Open Lending Co. (NASDAQ:LPRO) Target Price at $4.34

Shares of Open Lending Co. (NASDAQ:LPRO) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $4.44.

Several research analysts have issued reports on LPRO shares. Needham & Company LLC upped their price objective on Open Lending from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Friday, May 9th. DA Davidson reissued a “buy” rating and issued a $4.00 price target on shares of Open Lending in a research note on Wednesday, April 16th. Jefferies Financial Group downgraded Open Lending from a “buy” rating to a “hold” rating and cut their price target for the company from $8.00 to $3.70 in a research note on Thursday, March 20th. Finally, Citizens Jmp assumed coverage on Open Lending in a research note on Friday, April 4th. They issued a “market perform” rating on the stock.

Open Lending Stock Down 0.5%

NASDAQ LPRO opened at $2.00 on Friday. The firm has a market cap of $239.57 million, a PE ratio of 66.67 and a beta of 1.79. Open Lending has a one year low of $0.70 and a one year high of $6.97. The stock’s 50 day simple moving average is $2.02 and its 200 day simple moving average is $4.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $24.39 million for the quarter, compared to analyst estimates of $24.78 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. As a group, sell-side analysts forecast that Open Lending will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Open Lending

Several hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP raised its stake in Open Lending by 0.6% during the 4th quarter. Wasatch Advisors LP now owns 16,736,229 shares of the company’s stock worth $99,915,000 after buying an additional 105,449 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Open Lending by 7.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock worth $75,554,000 after purchasing an additional 920,630 shares in the last quarter. Vanguard Group Inc. increased its holdings in Open Lending by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock worth $60,768,000 after purchasing an additional 160,617 shares in the last quarter. Working Capital Advisors UK Ltd. increased its holdings in Open Lending by 6.8% during the 1st quarter. Working Capital Advisors UK Ltd. now owns 9,753,997 shares of the company’s stock worth $26,921,000 after purchasing an additional 619,060 shares in the last quarter. Finally, Ethos Financial Group LLC bought a new position in Open Lending during the 1st quarter worth about $8,139,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.