Brokerages Set Open Lending Co. (NASDAQ:LPRO) Price Target at $6.79

Shares of Open Lending Co. (NASDAQ:LPRO) have been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $6.79.

LPRO has been the subject of a number of research analyst reports. Canaccord Genuity Group cut their price target on shares of Open Lending from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Needham & Company LLC downgraded shares of Open Lending from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Finally, BTIG Research initiated coverage on shares of Open Lending in a report on Friday, June 7th. They issued a “neutral” rating for the company.

Institutional Trading of Open Lending

A number of hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP lifted its stake in Open Lending by 3.5% during the first quarter. Wasatch Advisors LP now owns 16,094,115 shares of the company’s stock valued at $100,749,000 after buying an additional 546,166 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Open Lending by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company’s stock valued at $67,337,000 after buying an additional 51,276 shares in the last quarter. Vanguard Group Inc. lifted its stake in Open Lending by 1.9% during the third quarter. Vanguard Group Inc. now owns 9,427,552 shares of the company’s stock valued at $69,010,000 after buying an additional 174,115 shares in the last quarter. Working Capital Advisors UK Ltd. lifted its stake in Open Lending by 10.2% during the fourth quarter. Working Capital Advisors UK Ltd. now owns 7,088,535 shares of the company’s stock valued at $60,323,000 after buying an additional 658,240 shares in the last quarter. Finally, Cannell Capital LLC lifted its stake in Open Lending by 55.4% during the fourth quarter. Cannell Capital LLC now owns 2,646,831 shares of the company’s stock valued at $22,525,000 after buying an additional 943,429 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Stock Performance

LPRO stock opened at $6.36 on Wednesday. The company has a market capitalization of $757.92 million, a P/E ratio of 57.82 and a beta of 1.12. The company has a 50-day simple moving average of $6.09 and a 200 day simple moving average of $6.38. Open Lending has a fifty-two week low of $4.57 and a fifty-two week high of $11.49. The company has a quick ratio of 13.14, a current ratio of 13.14 and a debt-to-equity ratio of 0.65.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Open Lending had a return on equity of 6.87% and a net margin of 13.31%. The company had revenue of $30.75 million during the quarter, compared to analyst estimates of $28.65 million. During the same period in the previous year, the company earned $0.10 EPS. The business’s revenue for the quarter was down 19.9% compared to the same quarter last year. Sell-side analysts predict that Open Lending will post 0.22 earnings per share for the current fiscal year.

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.