Needham & Company LLC Boosts Open Lending (NASDAQ:LPRO) Price Target to $2.50

Open Lending (NASDAQ:LPRO) had its price target lifted by Needham & Company LLC from $2.00 to $2.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently commented on the company. DA Davidson reissued a “buy” rating and issued a $4.00 price objective on shares of Open Lending in a research note on Wednesday, April 16th. Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and lowered their price target for the company from $8.00 to $3.70 in a research report on Thursday, March 20th. Finally, Citizens Jmp initiated coverage on Open Lending in a research note on Friday, April 4th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Open Lending currently has a consensus rating of “Hold” and an average price target of $4.44.

Open Lending Stock Performance

NASDAQ LPRO opened at $1.72 on Friday. The company has a market cap of $206.03 million, a P/E ratio of 57.33 and a beta of 1.79. The company has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $4.54. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending has a 12-month low of $0.70 and a 12-month high of $6.97.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The firm had revenue of $24.39 million during the quarter, compared to analysts’ expectations of $24.78 million. Sell-side analysts predict that Open Lending will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Open Lending

Hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP increased its position in shares of Open Lending by 0.6% during the 4th quarter. Wasatch Advisors LP now owns 16,736,229 shares of the company’s stock valued at $99,915,000 after purchasing an additional 105,449 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Open Lending by 7.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock worth $75,554,000 after buying an additional 920,630 shares during the last quarter. Vanguard Group Inc. raised its position in Open Lending by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock worth $60,768,000 after acquiring an additional 160,617 shares during the period. Geode Capital Management LLC raised its position in Open Lending by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,393,519 shares of the company’s stock worth $14,293,000 after acquiring an additional 28,253 shares during the period. Finally, EVR Research LP boosted its stake in Open Lending by 6.8% in the fourth quarter. EVR Research LP now owns 2,030,000 shares of the company’s stock valued at $12,119,000 after acquiring an additional 130,000 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

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.