Open Lending (NASDAQ:LPRO) Rating Reiterated by Needham & Company LLC

by · The Cerbat Gem

Open Lending (NASDAQ:LPRO – Get Free Report)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports.

A number of other equities analysts have also weighed in on LPRO. BTIG Research began coverage on Open Lending in a research note on Friday, June 7th. They set a “neutral” rating on the stock. JMP Securities dropped their target price on Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. DA Davidson decreased their price target on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Morgan Stanley dropped their price objective on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.56.

Get Our Latest Stock Report on Open Lending

Open Lending Trading Down 1.5 %

Shares of Open Lending stock opened at $5.75 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 13.32 and a quick ratio of 13.32. The business has a fifty day simple moving average of $5.71 and a two-hundred day simple moving average of $5.82. Open Lending has a 1 year low of $4.57 and a 1 year high of $8.70. The company has a market capitalization of $685.20 million, a price-to-earnings ratio of 52.27 and a beta of 1.12.

Open Lending (NASDAQ:LPRO – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The company had revenue of $26.73 million for the quarter, compared to analyst estimates of $31.03 million. Open Lending had a return on equity of 2.90% and a net margin of 6.25%. The business’s quarterly revenue was down 29.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. Research analysts forecast that Open Lending will post 0.18 EPS for the current year.

Institutional Trading of Open Lending

Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Open Lending by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company’s stock worth $230,000 after buying an additional 2,631 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Open Lending by 24.0% during the 2nd quarter. QRG Capital Management Inc. now owns 14,587 shares of the company’s stock worth $81,000 after purchasing an additional 2,824 shares during the last quarter. Dean Capital Management lifted its position in shares of Open Lending by 17.6% in the 4th quarter. Dean Capital Management now owns 33,119 shares of the company’s stock worth $282,000 after purchasing an additional 4,950 shares during the period. Chicago Partners Investment Group LLC boosted its stake in shares of Open Lending by 25.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 25,000 shares of the company’s stock valued at $213,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Open Lending in the 2nd quarter valued at $33,000. 78.06% of the stock is currently owned by institutional investors.

Open Lending Company Profile

(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.

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