Open Lending FY2024 EPS Forecast Reduced by Northland Capmk

Open Lending Co. (NASDAQ:LPRO - Free Report) - Analysts at Northland Capmk reduced their FY2024 earnings per share estimates for Open Lending in a report released on Friday, November 8th. Northland Capmk analyst M. Grondahl now expects that the company will earn $0.11 per share for the year, down from their prior forecast of $0.19. The consensus estimate for Open Lending's current full-year earnings is $0.13 per share. Northland Capmk also issued estimates for Open Lending's Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.08 EPS and FY2025 earnings at $0.26 EPS.

Open Lending (NASDAQ:LPRO - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $26.73 million for the quarter, compared to the consensus estimate of $31.03 million. Open Lending had a return on equity of 2.17% and a net margin of 4.78%. The firm's revenue for the quarter was down 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 EPS.

Several other analysts also recently commented on the company. Needham & Company LLC restated a "hold" rating on shares of Open Lending in a research note on Wednesday, October 2nd. DA Davidson dropped their price target on Open Lending from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, August 12th. JMP Securities lowered their price target on shares of Open Lending from $8.00 to $7.00 and set a "market outperform" rating on the stock in a report on Friday, August 9th. Finally, Morgan Stanley reduced their price objective on Open Lending from $6.00 to $5.00 and set an "equal weight" rating for the company in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Open Lending has a consensus rating of "Hold" and a consensus target price of $6.83.

Open Lending Trading Up 7.9 %

Open Lending stock traded up $0.46 during trading hours on Monday, reaching $6.37. 473,058 shares of the company's stock were exchanged, compared to its average volume of 427,462. The firm has a market capitalization of $759.03 million, a PE ratio of 196.67 and a beta of 1.13. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.63. The firm's 50 day simple moving average is $5.81 and its 200 day simple moving average is $5.84. Open Lending has a twelve month low of $4.57 and a twelve month high of $8.70.

Institutional Investors Weigh In On Open Lending

Several large investors have recently added to or reduced their stakes in LPRO. Price T Rowe Associates Inc. MD raised its holdings in shares of Open Lending by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company's stock valued at $67,337,000 after acquiring an additional 51,276 shares in the last quarter. Sei Investments Co. lifted its position in Open Lending by 9.4% during the second quarter. Sei Investments Co. now owns 532,852 shares of the company's stock valued at $2,973,000 after purchasing an additional 45,959 shares during the last quarter. EVR Research LP bought a new stake in shares of Open Lending during the 2nd quarter worth $2,758,000. Royce & Associates LP increased its stake in Open Lending by 152.1% in the third quarter. Royce & Associates LP now owns 481,640 shares of the company's stock valued at $2,948,000 after acquiring an additional 290,602 shares during the last quarter. Finally, Algert Global LLC raised its position in Open Lending by 3.7% during the second quarter. Algert Global LLC now owns 398,913 shares of the company's stock valued at $2,226,000 after purchasing an additional 14,191 shares in the last quarter. Institutional investors own 78.06% of the company's stock.

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.