Open Lending (NASDAQ:LPRO) Price Target Cut to $4.00 by Analysts at DA Davidson

Open Lending (NASDAQ:LPRO - Free Report) had its target price decreased by DA Davidson from $8.00 to $4.00 in a research report released on Wednesday,Benzinga reports. DA Davidson currently has a buy rating on the stock.

LPRO has been the topic of several other research reports. Jefferies Financial Group downgraded shares of Open Lending from a "buy" rating to a "hold" rating and reduced their price objective for the company from $8.00 to $3.70 in a research note on Thursday, March 20th. Needham & Company LLC lowered their price objective on Open Lending from $7.00 to $2.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $4.62.

Open Lending Price Performance

Shares of NASDAQ:LPRO traded down $0.02 during midday trading on Wednesday, hitting $1.00. 3,978,859 shares of the stock were exchanged, compared to its average volume of 635,514. Open Lending has a twelve month low of $0.96 and a twelve month high of $6.97. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $4.58 and a 200-day moving average price of $5.42. The stock has a market cap of $119.35 million, a P/E ratio of 33.50 and a beta of 1.57.

Remove Ads

Open Lending (NASDAQ:LPRO - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($1.23). Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The business had revenue of $24.23 million during the quarter, compared to analysts' expectations of $24.03 million. During the same period last year, the company earned ($0.04) EPS. On average, research analysts forecast that Open Lending will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Open Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in Open Lending by 1.5% during the 4th quarter. Invesco Ltd. now owns 157,318 shares of the company's stock worth $939,000 after purchasing an additional 2,287 shares in the last quarter. LPL Financial LLC grew its stake in Open Lending by 4.2% during the fourth quarter. LPL Financial LLC now owns 82,461 shares of the company's stock worth $492,000 after buying an additional 3,309 shares during the period. Federated Hermes Inc. increased its position in shares of Open Lending by 4.3% in the fourth quarter. Federated Hermes Inc. now owns 97,379 shares of the company's stock worth $581,000 after acquiring an additional 4,059 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Open Lending in the fourth quarter worth $25,000. Finally, Two Sigma Securities LLC raised its stake in shares of Open Lending by 26.9% in the 4th quarter. Two Sigma Securities LLC now owns 23,401 shares of the company's stock valued at $140,000 after acquiring an additional 4,962 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

About Open Lending

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.