Open Lending Corporation (NASDAQ:LPRO) Receives $2.77 Average PT from Brokerages

Open Lending Corporation (NASDAQ:LPRO) has been assigned an average recommendation of “Reduce” from the five ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $2.7667.

Several research firms recently weighed in on LPRO. DA Davidson reiterated a “neutral” rating and set a $3.15 price objective (up from $3.00) on shares of Open Lending in a research note on Friday, June 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Open Lending in a research note on Tuesday, June 9th. Wall Street Zen upgraded Open Lending to a “sell” rating in a research report on Saturday, August 1st. Finally, Northland Securities set a $3.15 price target on Open Lending in a report on Wednesday, June 17th.

Open Lending Stock Performance

Shares of LPRO opened at $3.14 on Friday. The business’s fifty day moving average price is $2.90 and its 200 day moving average price is $2.06. Open Lending has a 12-month low of $1.17 and a 12-month high of $3.15. The stock has a market capitalization of $369.50 million, a PE ratio of -78.50 and a beta of 2.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.44 and a quick ratio of 4.44.

Open Lending (NASDAQ:LPRO) last released its earnings results on Thursday, May 7th. The company reported ($0.00) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.01). Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. The business had revenue of $20.49 million for the quarter, compared to the consensus estimate of $20.41 million. Equities research analysts forecast that Open Lending will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Open Lending

Several hedge funds and other institutional investors have recently modified their holdings of LPRO. Prudential Financial Inc. bought a new position in Open Lending in the 2nd quarter worth approximately $28,000. Dynamic Technology Lab Private Ltd acquired a new position in Open Lending during the first quarter worth about $43,000. D.A. Davidson & CO. bought a new stake in shares of Open Lending in the 4th quarter worth approximately $28,000. Caxton Associates LLP bought a new position in shares of Open Lending in the first quarter valued at $54,000. Finally, Cerity Partners LLC purchased a new stake in shares of Open Lending during the second quarter valued at $44,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

About Open Lending

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.