Open Lending (NASDAQ:LPRO) Receives "Buy" Rating from DA Davidson

Open Lending (NASDAQ:LPRO - Get Free Report)'s stock had its "buy" rating reiterated by DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $4.00 price objective on the stock. DA Davidson's target price indicates a potential upside of 370.59% from the company's previous close.

LPRO has been the topic of a number of other reports. Needham & Company LLC lowered their price target on Open Lending from $7.00 to $2.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group cut 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 report on Thursday, March 20th. Finally, Citizens Jmp initiated coverage on shares of Open Lending in a research report on Friday, April 4th. They set a "market perform" rating for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $4.62.

Open Lending Trading Up 1.9 %

Shares of LPRO stock traded up $0.02 during trading hours on Wednesday, reaching $0.85. The company's stock had a trading volume of 4,034,539 shares, compared to its average volume of 2,020,751. 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 stock has a market capitalization of $101.82 million, a P/E ratio of 28.33 and a beta of 1.57. The firm's fifty day simple moving average is $3.31 and its 200 day simple moving average is $4.99. Open Lending has a one year low of $0.70 and a one year high of $6.97.

Open Lending (NASDAQ:LPRO - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The company reported ($1.21) 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 firm had revenue of $24.23 million for the quarter, compared to analysts' expectations of $24.03 million. During the same period in the prior year, the business posted ($0.04) EPS. Equities research analysts expect that Open Lending will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Open Lending

A number of institutional investors have recently added to or reduced their stakes in LPRO. Price T Rowe Associates Inc. MD increased its holdings in Open Lending by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company's stock valued at $75,554,000 after acquiring an additional 920,630 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Open Lending during the 4th quarter worth approximately $4,326,000. Royce & Associates LP boosted its position in shares of Open Lending by 61.3% during the 4th quarter. Royce & Associates LP now owns 777,035 shares of the company's stock valued at $4,639,000 after acquiring an additional 295,395 shares during the last quarter. Vanguard Group Inc. increased its position in Open Lending by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company's stock worth $60,768,000 after purchasing an additional 160,617 shares during the last quarter. Finally, Barclays PLC lifted its position in Open Lending by 363.5% during the third quarter. Barclays PLC now owns 169,024 shares of the company's stock valued at $1,034,000 after purchasing an additional 132,561 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

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.