Open Lending (NASDAQ:LPRO) Given New $3.00 Price Target at DA Davidson

Open Lending (NASDAQ:LPRO) had its price target reduced by equities research analysts at DA Davidson from $4.00 to $3.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s target price suggests a potential upside of 100.67% from the company’s current price.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.75.

Open Lending Stock Up 3.1%

NASDAQ LPRO traded up $0.05 during trading hours on Monday, hitting $1.50. The company had a trading volume of 264,017 shares, compared to its average volume of 590,681. The firm’s 50 day moving average is $1.65 and its 200 day moving average is $1.80. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.52 and a quick ratio of 4.52. Open Lending has a fifty-two week low of $0.70 and a fifty-two week high of $4.33. The company has a market capitalization of $176.69 million, a price-to-earnings ratio of -49.50 and a beta of 2.05.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Open Lending had a positive return on equity of 8.83% and a negative net margin of 4.54%.The company had revenue of $19.35 million for the quarter, compared to analyst estimates of $21.92 million. Sell-side analysts anticipate that Open Lending will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. bought a new stake in Open Lending in the fourth quarter valued at $28,000. Prudential Financial Inc. bought a new position in shares of Open Lending during the second quarter worth about $28,000. Thompson Davis & CO. Inc. acquired a new stake in shares of Open Lending in the 3rd quarter worth about $42,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Open Lending in the 1st quarter worth about $43,000. Finally, R Squared Ltd lifted its position in Open Lending by 32.7% in the 4th quarter. R Squared Ltd now owns 28,590 shares of the company’s stock valued at $44,000 after purchasing an additional 7,047 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Company Profile

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.