Open Lending Co. (NASDAQ:LPRO) Receives $6.83 Consensus Price Target from Brokerages

Open Lending Co. (NASDAQ:LPRO - Get Free Report) has earned an average rating of "Moderate Buy" from the seven research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $6.83.

Separately, Needham & Company LLC raised shares of Open Lending from a "hold" rating to a "buy" rating and set a $7.00 price target on the stock in a research report on Wednesday.

Hedge Funds Weigh In On Open Lending

Institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP increased its stake in shares of Open Lending by 152.1% during the third quarter. Royce & Associates LP now owns 481,640 shares of the company's stock worth $2,948,000 after purchasing an additional 290,602 shares during the period. Wasatch Advisors LP increased its position in Open Lending by 1.4% during the 3rd quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company's stock worth $101,780,000 after buying an additional 222,969 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Open Lending during the third quarter worth $1,153,000. Main Management ETF Advisors LLC bought a new stake in shares of Open Lending in the third quarter valued at about $845,000. Finally, Barclays PLC grew its stake in shares of Open Lending by 363.5% in the third quarter. Barclays PLC now owns 169,024 shares of the company's stock valued at $1,034,000 after acquiring an additional 132,561 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Open Lending Stock Down 5.0 %

Shares of NASDAQ:LPRO traded down $0.32 during midday trading on Wednesday, reaching $6.05. The company had a trading volume of 588,385 shares, compared to its average volume of 320,310. Open Lending has a 1-year low of $4.57 and a 1-year high of $8.43. The stock has a market cap of $722.07 million, a PE ratio of 201.67 and a beta of 1.16. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The business's 50 day moving average price is $5.79 and its 200 day moving average price is $5.83.

Open Lending (NASDAQ:LPRO - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The company had revenue of $23.48 million for the quarter, compared to analyst estimates of $29.46 million. During the same period last year, the firm earned $0.02 EPS. Research analysts forecast that Open Lending will post 0.1 EPS for the current fiscal year.

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.