Open Lending (NASDAQ:LPRO) Posts Earnings Results, Misses Estimates By $1.23 EPS

Open Lending (NASDAQ:LPRO - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($1.23), Briefing.com reports. The business had revenue of $24.23 million for the quarter, compared to analysts' expectations of $24.03 million. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. During the same quarter in the prior year, the firm earned ($0.04) EPS.

Open Lending Price Performance

Shares of Open Lending stock traded down $0.09 during trading hours on Friday, hitting $1.12. The company's stock had a trading volume of 453,883 shares, compared to its average volume of 606,751. Open Lending has a 12-month low of $1.11 and a 12-month high of $6.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. The company has a market cap of $133.08 million, a PE ratio of 37.17 and a beta of 1.57. The business has a 50 day moving average price of $4.66 and a two-hundred day moving average price of $5.46.

Analyst Ratings Changes

Several research analysts have commented on LPRO shares. Jefferies Financial Group lowered shares of Open Lending from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $8.00 to $3.70 in a report on Thursday, March 20th. Citizens Jmp assumed coverage on Open Lending in a research note on Friday. They issued a "market perform" rating on the stock. DA Davidson dropped their target price on shares of Open Lending from $8.00 to $4.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Needham & Company LLC cut their price target on Open Lending from $7.00 to $2.00 and set a "buy" rating on the stock in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $4.62.

Remove Ads

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.