Open Lending Co. (NASDAQ:LPRO) Receives an Average “Moderate Buy” Recommendation from Analysts
Shares of Open Lending Co. (NASDAQ:LPRO – Get Rating) have been assigned an average recommendation of “moderate buy” by the nine ratings companies that currently cover the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The 12-month average price target among brokerages that have covered the stock over the past year is $28.29.
Several analysts have recently released reports on the company. Deutsche Bank Aktiengesellschaft cut its price target on open loans from $25.00 to $18.00 in a Friday, May 6 report. William Blair reiterated an “outperforming” rating on Open Lending stocks in a Friday, May 6 research report. Morgan Stanley cut its price target on open loans from $16.50 to $14.00 and set an “equal weight” rating for the company in a Friday, April 22 research note. Finally, Raymond James reduced his price target on Open Lending from $30.00 to $22.00 in a Friday May 6 research note.
Institutional investors have recently been buying and selling shares of the stock. Lazard Asset Management LLC bought a new position in Open Lending during the fourth quarter worth approximately $28,000. Point72 Hong Kong Ltd bought a new position in shares of Open Lending during the first quarter worth $41,000. Nisa Investment Advisors LLC increased its holdings of Open Lending shares by 182.5% in the first quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the company valued at $43,000 after acquiring an additional 1,460 shares in the last quarter. Carl Stuart Investment Advisor Inc. bought a new position in Open Lending stock during the first quarter worth $56,000. Finally, PNC Financial Services Group Inc. increased its stake in Open Lending by 51.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company worth $89,000 after purchasing an additional 1,591 shares in the last quarter. Institutional investors and hedge funds hold 86.85% of the company’s shares.
NASDAQ LPRO opened at $10.69 on Tuesday. The stock has a market capitalization of $1.35 billion, a price-earnings ratio of 13.71 and a beta of 0.69. The stock’s 50-day moving average price is $12.33 and its two-hundred-day moving average price is $16.70. The company has a debt ratio of 0.78, a quick ratio of 17.78 and a current ratio of 17.78. Open Lending has a 52-week low of $9.86 and a 52-week high of $42.96.
Open Lending (NASDAQ:LPRO – Get Rating) last reported quarterly earnings data on Thursday, May 5. The company reported earnings per share (EPS) of $0.18 for the quarter, beating analyst consensus estimates of $0.17 by $0.01. Open Lending had a return on equity of 37.93% and a net margin of 44.00%. The company posted revenue of $50.07 million for the quarter, compared to $46.07 million expected by analysts. In the same quarter a year earlier, the company posted EPS of $0.15. The company’s revenues increased by 13.8% compared to the same quarter last year. On average, equity research analysts expect Open Lending to post 0.81 EPS for the current year.
About Open Loan (Get an assessment)
Open Lending Corporation provides loan activation and risk analytics solutions to credit unions, regional banks, non-bank auto finance companies and captive OEM finance companies in the United States. United. It offers the Lender Protection Program (LPP), which is a software-as-a-service platform that facilitates lending decision-making and automated underwriting by third-party lenders and issuance of insurance against credit defaults through third party insurance providers.
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