Brokerages Set Open Lending Co. (NASDAQ:LPRO) Target Price at $4.34

Shares of Open Lending Co. (NASDAQ:LPRO - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.44.

A number of research firms have commented on LPRO. Citizens Jmp initiated coverage on Open Lending in a research note on Friday, April 4th. They set a "market perform" rating on the stock. Needham & Company LLC increased their price target on shares of Open Lending from $2.00 to $2.50 and gave the stock a "buy" rating in a research note on Friday. Jefferies Financial Group cut Open Lending from a "buy" rating to a "hold" rating and dropped their target price for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. Finally, DA Davidson reiterated a "buy" rating and issued a $4.00 price objective on shares of Open Lending in a research report on Wednesday, April 16th.

Institutional Trading of Open Lending

A number of institutional investors and hedge funds have recently modified their holdings of LPRO. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 920,630 shares during the period. Raymond James Financial Inc. acquired a new position in Open Lending during the fourth quarter valued at approximately $4,326,000. Royce & Associates LP increased its stake 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 worth $4,639,000 after purchasing an additional 295,395 shares during the last quarter. Vanguard Group Inc. boosted its position in Open Lending by 1.6% during 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 period. Finally, Barclays PLC increased its stake in shares of Open Lending by 363.5% during the third quarter. Barclays PLC now owns 169,024 shares of the company's stock worth $1,034,000 after purchasing an additional 132,561 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Open Lending Trading Down 6.5 %

NASDAQ LPRO traded down $0.12 during trading on Friday, hitting $1.72. The stock had a trading volume of 2,241,880 shares, compared to its average volume of 1,012,344. Open Lending has a one year low of $0.70 and a one year high of $6.97. The stock has a 50 day simple moving average of $2.13 and a 200 day simple moving average of $4.53. The stock has a market capitalization of $206.03 million, a price-to-earnings ratio of 57.33 and a beta of 1.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The company had revenue of $24.39 million during the quarter, compared to analyst estimates of $24.78 million. Sell-side analysts predict that Open Lending will post 0.1 earnings per share for the current year.

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.