Analysts Set Open Lending Co. (NASDAQ:LPRO) Price Target at $6.79

Shares of Open Lending Co. (NASDAQ:LPROGet Free Report) have earned an average rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.79.

Several analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price target on shares of Open Lending in a research note on Tuesday, March 26th. Needham & Company LLC decreased their price target on shares of Open Lending from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Canaccord Genuity Group decreased their price target on shares of Open Lending from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Finally, Raymond James reaffirmed an “outperform” rating and set a $8.00 price target on shares of Open Lending in a research note on Tuesday, March 26th.

Check Out Our Latest Analysis on Open Lending

Open Lending Stock Up 1.6 %

Shares of NASDAQ LPRO opened at $6.95 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.14 and a quick ratio of 13.14. The company has a market cap of $828.23 million, a P/E ratio of 63.19 and a beta of 1.12. Open Lending has a 1 year low of $4.57 and a 1 year high of $11.73. The firm has a 50-day simple moving average of $5.70 and a two-hundred day simple moving average of $6.77.

Open Lending (NASDAQ:LPROGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Open Lending had a return on equity of 6.87% and a net margin of 13.31%. The company had revenue of $30.75 million for the quarter, compared to analysts’ expectations of $28.65 million. During the same period last year, the business posted $0.10 earnings per share. The business’s revenue was down 19.9% compared to the same quarter last year. Research analysts anticipate that Open Lending will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John Joseph Flynn sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $7.35, for a total value of $367,500.00. Following the completion of the transaction, the director now owns 1,993,762 shares of the company’s stock, valued at $14,654,150.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 15.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Open Lending

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of Open Lending by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company’s stock worth $67,337,000 after purchasing an additional 51,276 shares in the last quarter. Sei Investments Co. increased its position in shares of Open Lending by 14.5% during the first quarter. Sei Investments Co. now owns 486,893 shares of the company’s stock worth $3,048,000 after purchasing an additional 61,647 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Open Lending by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 230,974 shares of the company’s stock worth $1,446,000 after purchasing an additional 22,139 shares in the last quarter. SpiderRock Advisors LLC purchased a new stake in shares of Open Lending during the first quarter valued at $166,000. Finally, Raymond James & Associates grew its holdings in shares of Open Lending by 16.2% during the first quarter. Raymond James & Associates now owns 976,360 shares of the company’s stock valued at $6,112,000 after buying an additional 136,370 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

About Open Lending

(Get Free Report

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.

Further Reading

Analyst Recommendations for Open Lending (NASDAQ:LPRO)

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