Open Lending’s (LPRO) Buy Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Open Lending (NASDAQ:LPRO) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $4.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. Citizens Jmp assumed coverage on shares of Open Lending in a research note on Friday, April 4th. They set a “market perform” rating on the stock. Needham & Company LLC decreased their target price on shares of Open Lending from $7.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, Jefferies Financial Group lowered shares of Open Lending from a “buy” rating to a “hold” rating and dropped their price target for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Open Lending has a consensus rating of “Hold” and a consensus target price of $4.62.

Open Lending Stock Performance

NASDAQ LPRO opened at $0.83 on Wednesday. The company’s fifty day moving average is $3.31 and its two-hundred day moving average is $5.00. The firm has a market capitalization of $99.89 million, a price-to-earnings ratio of 27.80 and a beta of 1.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. Open Lending has a 52-week low of $0.70 and a 52-week high of $6.97.

Open Lending (NASDAQ:LPRO) 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). Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The firm had revenue of $24.23 million for the quarter, compared to analyst estimates of $24.03 million. During the same period last year, the business earned ($0.04) earnings per share. Equities research analysts forecast that Open Lending will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Open Lending

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Open Lending in the fourth quarter valued at approximately $4,326,000. Barclays PLC raised its position in Open Lending by 363.5% in the 3rd 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. Royce & Associates LP boosted its stake in Open Lending by 61.3% in the fourth quarter. Royce & Associates LP now owns 777,035 shares of the company’s stock worth $4,639,000 after purchasing an additional 295,395 shares in the last quarter. State Street Corp grew its holdings in shares of Open Lending by 2.6% during the third quarter. State Street Corp now owns 2,545,783 shares of the company’s stock worth $15,580,000 after purchasing an additional 63,450 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Open Lending by 3.7% in the fourth quarter. Rhumbline Advisers now owns 146,101 shares of the company’s stock valued at $872,000 after buying an additional 5,149 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.