Analysts Set Open Lending Co. (NASDAQ:LPRO) Target Price at $12.89

Open Lending Co. (NASDAQ:LPRO – Get Rating) has earned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.89.

A number of brokerages recently weighed in on LPRO. Needham & Company LLC decreased their price target on shares of Open Lending from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, February 24th. DA Davidson decreased their price target on shares of Open Lending from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, February 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Open Lending from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, February 24th. JMP Securities reiterated a “market outperform” rating and set a $10.00 price target on shares of Open Lending in a research note on Tuesday, January 31st. Finally, Raymond James cut shares of Open Lending from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $10.00 to $9.00 in a research note on Monday, February 27th.

Open Lending Trading Down 2.6 %

Shares of Open Lending stock opened at $6.66 on Friday. The company has a fifty day simple moving average of $8.04 and a 200-day simple moving average of $7.74. Open Lending has a 12-month low of $5.35 and a 12-month high of $20.72. The company has a current ratio of 18.58, a quick ratio of 18.58 and a debt-to-equity ratio of 0.68. The stock has a market cap of $823.76 million, a price-to-earnings ratio of 12.81 and a beta of 0.78.

Open Lending (NASDAQ:LPRO – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). The business had revenue of $26.82 million for the quarter, compared to analyst estimates of $34.51 million. Open Lending had a return on equity of 31.84% and a net margin of 37.10%. The firm’s revenue for the quarter was down 48.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. On average, equities analysts forecast that Open Lending will post 0.32 EPS for the current fiscal year.

Institutional Trading of Open Lending

Several hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new position in shares of Open Lending in the 2nd quarter valued at about $118,000. Josh Arnold Investment Consultant LLC purchased a new position in shares of Open Lending in the 2nd quarter valued at about $573,000. Federated Hermes Inc. increased its holdings in shares of Open Lending by 13.6% in the 3rd quarter. Federated Hermes Inc. now owns 1,389,864 shares of the company’s stock valued at $11,175,000 after purchasing an additional 166,550 shares in the last quarter. Valmark Advisers Inc. increased its holdings in shares of Open Lending by 32.5% in the 3rd quarter. Valmark Advisers Inc. now owns 21,507 shares of the company’s stock valued at $173,000 after purchasing an additional 5,276 shares in the last quarter. Finally, CastleKnight Management LP increased its holdings in shares of Open Lending by 46.6% in the 2nd quarter. CastleKnight Management LP now owns 30,200 shares of the company’s stock valued at $309,000 after purchasing an additional 9,600 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

About Open Lending

(Get Rating)

Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). It specializes in risk-based pricing and modeling and provides automated decision-technology for automotive lenders throughout the United States.