Open Lending (LPRO) Scheduled to Post Earnings on Tuesday

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

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The firm had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $27.55 million. During the same period last year, the firm posted ($0.03) earnings per share. Open Lending’s revenue for the quarter was down 44.4% on a year-over-year basis. 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 Price Performance

Shares of NASDAQ LPRO opened at $5.11 on Friday. The firm has a market capitalization of $607.46 million, a PE ratio of 30.06 and a beta of 1.03. Open Lending has a fifty-two week low of $4.57 and a fifty-two week high of $11.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 14.08 and a current ratio of 14.08. The stock’s 50-day simple moving average is $6.05 and its 200-day simple moving average is $6.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LPRO shares. Canaccord Genuity Group reduced their price objective on Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, March 26th. Raymond James reiterated an “outperform” rating and issued a $8.00 price objective on shares of Open Lending in a research note on Tuesday, March 26th. JMP Securities restated a “market outperform” rating and issued a $8.00 price target on shares of Open Lending in a research report on Tuesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price target on shares of Open Lending in a research note on Wednesday, February 28th. Finally, Morgan Stanley raised shares of Open Lending from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $4.00 to $7.00 in a research note on Tuesday, February 6th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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 on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total transaction of $367,500.00. Following the completion of the transaction, the director now directly owns 1,993,762 shares in the company, valued at approximately $14,654,150.70. The sale was disclosed in a document filed with the SEC, which is available through this link. 15.00% of the stock is owned by 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.