Open Lending (LPRO) Set to Announce Quarterly Earnings on Tuesday

Open Lending (NASDAQ:LPRO - Get Free Report) is set to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Open Lending to post earnings of $0.05 per share for the quarter. Open Lending has set its Q1 2024 guidance at EPS.Investors interested in listening to the company's conference call can do so using this link.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The company had revenue of $14.90 million during the quarter, compared to analysts' expectations of $27.55 million. Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The company's quarterly revenue was down 44.4% on a year-over-year basis. During the same period last year, the business posted ($0.03) earnings per share. On average, analysts expect Open Lending to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Open Lending Price Performance

Shares of NASDAQ:LPRO traded up $0.10 during trading on Tuesday, hitting $5.10. 477,499 shares of the stock were exchanged, compared to its average volume of 458,366. Open Lending has a 12-month low of $4.57 and a 12-month high of $11.99. The company has a market cap of $606.29 million, a PE ratio of 30.00 and a beta of 0.99. The company has a fifty day moving average price of $6.23 and a two-hundred day moving average price of $6.79. The company has a current ratio of 14.08, a quick ratio of 14.08 and a debt-to-equity ratio of 0.68.

Analyst Ratings Changes

Several analysts have weighed in on LPRO shares. Morgan Stanley raised Open Lending from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $4.00 to $7.00 in a report on Tuesday, February 6th. Canaccord Genuity Group lowered their price objective on shares of Open Lending from $7.50 to $7.00 and set a "hold" rating on the stock in a research note on Tuesday, March 26th. Needham & Company LLC restated a "buy" rating and set a $8.00 target price on shares of Open Lending in a research report on Wednesday, February 28th. JMP Securities reaffirmed a "market outperform" rating and issued a $8.00 price target on shares of Open Lending in a report on Tuesday, March 26th. Finally, Raymond James reissued an "outperform" rating and set a $8.00 price objective on shares of Open Lending in a research note on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.07.

Insiders Place Their Bets

In other news, Director John Joseph Flynn sold 50,000 shares of the company's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total transaction of $367,500.00. Following the completion of the sale, the director now directly owns 1,993,762 shares in the company, valued at approximately $14,654,150.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.00% of the stock is owned by corporate insiders.

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.