Open Lending Corporation (NASDAQ:LPRO) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Open Lending Corporation has received an average rating of "Moderate Buy" from six analysts, with three recommending a hold and three a buy, and an average price target of $3.10.
• Institutional investment in Open Lending has increased significantly, with Cannell Capital boosting its stake by 87.1% and Man Group increasing its holdings by 1,815.6% during the second quarter.
• Open Lending experienced slight earnings misses with a reported $0.01 EPS compared to the consensus estimate of $0.02, but exceeded revenue expectations with $25.31 million.

Open Lending Corporation (NASDAQ:LPRO - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $3.10.

A number of analysts recently commented on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $2.80 price target (up previously from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Needham & Company LLC raised their price target on Open Lending from $2.00 to $2.50 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Stephens assumed coverage on Open Lending in a research report on Thursday, June 12th. They set an "equal weight" rating and a $2.50 price objective for the company.

Hedge Funds Weigh In On Open Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cannell Capital LLC lifted its position in Open Lending by 87.1% during the second quarter. Cannell Capital LLC now owns 3,596,490 shares of the company's stock valued at $6,977,000 after buying an additional 1,674,646 shares during the period. SkyView Investment Advisors LLC lifted its position in Open Lending by 21.0% during the second quarter. SkyView Investment Advisors LLC now owns 113,246 shares of the company's stock valued at $229,000 after buying an additional 19,628 shares during the period. Captrust Financial Advisors bought a new position in shares of Open Lending during the second quarter valued at $47,000. Man Group plc increased its holdings in shares of Open Lending by 1,815.6% during the second quarter. Man Group plc now owns 339,219 shares of the company's stock valued at $658,000 after acquiring an additional 321,511 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Open Lending by 73.2% during the second quarter. BNP Paribas Financial Markets now owns 39,707 shares of the company's stock valued at $77,000 after acquiring an additional 16,785 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Open Lending Price Performance

Shares of NASDAQ:LPRO opened at $2.06 on Friday. The firm has a 50 day moving average of $2.25 and a 200-day moving average of $2.73. Open Lending has a 12 month low of $0.70 and a 12 month high of $6.92. The stock has a market capitalization of $246.75 million, a PE ratio of -1.75 and a beta of 1.92. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 1.63.

Open Lending (NASDAQ:LPRO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The company had revenue of $25.31 million during the quarter, compared to the consensus estimate of $23.63 million. On average, equities research analysts predict that Open Lending will post 0.1 EPS for the current fiscal 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.

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