Open Lending Co. (NASDAQ:LPRO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Open Lending Co. (NASDAQ:LPRO – Get Rating) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.33.

LPRO has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of Open Lending from $5.00 to $6.00 in a research report on Thursday, May 11th. JMP Securities restated a “market outperform” rating and issued a $10.00 target price on shares of Open Lending in a research report on Tuesday, January 31st. DA Davidson decreased their target price on shares of Open Lending from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, February 27th. Canaccord Genuity Group decreased their target price on shares of Open Lending from $30.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, February 21st. Finally, Raymond James cut shares of Open Lending from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $10.00 to $9.00 in a research report on Monday, February 27th.

Open Lending Stock Up 1.5 %

Shares of Open Lending stock opened at $9.99 on Friday. The company has a fifty day moving average price of $7.61 and a 200 day moving average price of $7.53. The company has a current ratio of 16.24, a quick ratio of 16.24 and a debt-to-equity ratio of 0.69. Open Lending has a twelve month low of $5.35 and a twelve month high of $13.97. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 22.70 and a beta of 0.77.

Open Lending (NASDAQ:LPRO – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $38.36 million for the quarter, compared to analyst estimates of $32.19 million. Open Lending had a net margin of 33.36% and a return on equity of 26.08%. The firm’s revenue was down 23.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. Equities research analysts forecast that Open Lending will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in LPRO. SkyView Investment Advisors LLC acquired a new stake in Open Lending in the 1st quarter valued at about $218,000. JPMorgan Chase & Co. increased its position in Open Lending by 23.4% in the 1st quarter. JPMorgan Chase & Co. now owns 135,238 shares of the company’s stock valued at $952,000 after acquiring an additional 25,662 shares in the last quarter. KB Financial Partners LLC acquired a new stake in Open Lending in the 1st quarter valued at about $200,000. State Street Corp increased its position in Open Lending by 1.3% in the 1st quarter. State Street Corp now owns 2,360,966 shares of the company’s stock valued at $16,621,000 after acquiring an additional 30,647 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Open Lending by 5.6% in the 1st quarter. Geode Capital Management LLC now owns 2,051,317 shares of the company’s stock valued at $14,441,000 after acquiring an additional 107,919 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

Open Lending Company Profile

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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.