Analysts Set Open Lending Corporation (NASDAQ:LPRO) Target Price at $2.56
by Danessa Lincoln · The Markets DailyShares of Open Lending Corporation (NASDAQ:LPRO – Get Free Report) have been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $2.56.
LPRO has been the topic of several analyst reports. DA Davidson dropped their price target on shares of Open Lending from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $2.00 target price on shares of Open Lending in a research report on Tuesday, March 17th.
Read Our Latest Stock Analysis on Open Lending
Open Lending Price Performance
NASDAQ LPRO opened at $1.20 on Monday. The company has a 50-day moving average price of $1.45 and a 200-day moving average price of $1.71. Open Lending has a 52 week low of $0.70 and a 52 week high of $2.70. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $141.22 million, a P/E ratio of -40.00 and a beta of 2.03.
Open Lending (NASDAQ:LPRO – Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Open Lending had a positive return on equity of 8.83% and a negative net margin of 4.54%.The business had revenue of $19.35 million during the quarter, compared to analysts’ expectations of $21.92 million. Equities research analysts anticipate that Open Lending will post 0.1 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in LPRO. R Squared Ltd grew its stake in shares of Open Lending by 32.7% during the 4th quarter. R Squared Ltd now owns 28,590 shares of the company’s stock valued at $44,000 after acquiring an additional 7,047 shares during the period. Rhumbline Advisers lifted its holdings in Open Lending by 6.4% during the second quarter. Rhumbline Advisers now owns 159,855 shares of the company’s stock valued at $310,000 after purchasing an additional 9,590 shares in the last quarter. Savant Capital LLC lifted its holdings in Open Lending by 16.1% during the third quarter. Savant Capital LLC now owns 75,223 shares of the company’s stock valued at $159,000 after purchasing an additional 10,452 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Open Lending by 84.0% in the first quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock worth $65,000 after purchasing an additional 10,812 shares during the period. Finally, Barclays PLC boosted its position in shares of Open Lending by 9.0% in the fourth quarter. Barclays PLC now owns 157,383 shares of the company’s stock worth $244,000 after purchasing an additional 12,963 shares during the period. Institutional investors 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.