Open Lending (LPRO) Scheduled to Post Earnings on Tuesday

Open Lending (NASDAQ:LPRO) will post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Open Lending to post earnings of $0.05 per share for the quarter. Open Lending has set its Q1 2024 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). The business had revenue of $14.90 million for the quarter, compared to analyst estimates of $27.55 million. Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The firm’s revenue for the quarter was down 44.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS. On average, analysts expect Open Lending to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Open Lending Trading Down 1.5 %

NASDAQ LPRO opened at $5.11 on Monday. Open Lending has a one year low of $4.57 and a one year high of $11.99. The firm has a market cap of $607.48 million, a PE ratio of 30.06 and a beta of 1.03. The firm’s fifty day moving average is $6.05 and its two-hundred day moving average is $6.76. The company has a debt-to-equity ratio of 0.68, a quick ratio of 14.08 and a current ratio of 14.08.

Wall Street Analyst Weigh In

LPRO has been the subject of a number of recent research reports. Raymond James reaffirmed an “outperform” rating and set a $8.00 price objective on shares of Open Lending in a research report on Tuesday, March 26th. Canaccord Genuity Group lowered their price objective on shares of Open Lending from $7.50 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, March 26th. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of Open Lending in a research report on Wednesday, February 28th. Morgan Stanley raised shares of Open Lending from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $4.00 to $7.00 in a report on Tuesday, February 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $8.00 price target on shares of Open Lending in a report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.07.

Insider Buying and Selling at Open Lending

In related news, Director John Joseph Flynn sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $7.25, for a total value of $362,500.00. Following the sale, the director now owns 2,079,666 shares in the company, valued at approximately $15,077,578.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 15.00% of the stock is currently owned by corporate insiders.

Open Lending Company Profile

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.