Open Lending (NASDAQ:LPRO) Price Target Cut to $2.00 by Analysts at Needham & Company LLC

Open Lending (NASDAQ:LPRO - Free Report) had its target price trimmed by Needham & Company LLC from $7.00 to $2.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Jefferies Financial Group lowered Open Lending from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $8.00 to $3.70 in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $4.62.

Open Lending Stock Down 2.0 %

Shares of Open Lending stock traded down $0.02 on Wednesday, hitting $1.00. 3,978,859 shares of the company traded hands, compared to its average volume of 635,514. Open Lending has a 12-month low of $0.96 and a 12-month high of $6.97. 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 company has a market cap of $119.35 million, a PE ratio of 33.50 and a beta of 1.57. The company has a 50-day moving average price of $4.58 and a 200 day moving average price of $5.42.

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Open Lending (NASDAQ:LPRO - Get Free Report) last released its earnings results on Monday, March 31st. The company reported ($1.21) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($1.23). The firm had revenue of $24.23 million for the quarter, compared to analyst estimates of $24.03 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. During the same period in the prior year, the firm earned ($0.04) EPS. Sell-side analysts predict that Open Lending will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Open Lending by 20.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 202,743 shares of the company's stock worth $1,210,000 after purchasing an additional 34,740 shares during the period. ProShare Advisors LLC increased its holdings in shares of Open Lending by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 28,777 shares of the company's stock valued at $172,000 after purchasing an additional 9,468 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Open Lending by 69.2% during the 4th quarter. Quantinno Capital Management LP now owns 18,736 shares of the company's stock worth $112,000 after buying an additional 7,664 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Open Lending by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 149,098 shares of the company's stock valued at $890,000 after buying an additional 5,264 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Open Lending by 52.2% during the fourth quarter. Deutsche Bank AG now owns 95,160 shares of the company's stock worth $568,000 after acquiring an additional 32,634 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

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.