Open Lending Corporation (NASDAQ:LPRO) Receives $3.10 Average PT from Analysts

Key Points

• Open Lending Corporation (NASDAQ:LPRO) has received a consensus recommendation of "Moderate Buy" from analysts, with an average 1-year price target of $3.10.
• The company reported earnings of $0.01 EPS for the last quarter, missing estimates but exceeding revenue expectations at $25.31 million.
• Hedge funds hold 78.06% of Open Lending's stock, indicating strong interest from institutional investors in the company's performance.

Shares of Open Lending Corporation (NASDAQ:LPRO - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $3.10.

LPRO has been the topic of several recent research reports. Raymond James Financial reiterated an "outperform" rating and issued a $2.80 price target (up from $2.50) on shares of Open Lending in a research report on Thursday, August 7th. Stephens initiated coverage on Open Lending in a report on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 target price on the stock.

Open Lending Stock Down 2.8%

LPRO stock traded down $0.06 during trading on Thursday, hitting $2.10. 499,071 shares of the stock traded hands, compared to its average volume of 510,034. The stock has a market cap of $248.16 million, a price-to-earnings ratio of -1.78 and a beta of 1.83. The company has a debt-to-equity ratio of 1.63, a current ratio of 5.67 and a quick ratio of 5.67. Open Lending has a 1 year low of $0.70 and a 1 year high of $6.92. The firm's 50 day moving average is $2.26 and its two-hundred day moving average is $2.18.

Open Lending (NASDAQ:LPRO - Get Free Report) last posted 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 firm had revenue of $25.31 million for the quarter, compared to analysts' expectations of $23.63 million. On average, sell-side analysts anticipate that Open Lending will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LPRO. R Squared Ltd bought a new stake in Open Lending during the 2nd quarter worth approximately $28,000. Prudential Financial Inc. purchased a new stake in shares of Open Lending in the second quarter worth $28,000. Brighton Jones LLC bought a new stake in shares of Open Lending during the 2nd quarter valued at $30,000. Summit Securities Group LLC bought a new stake in shares of Open Lending during the 1st quarter valued at $32,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in shares of Open Lending during the 2nd quarter valued at $32,000. 78.06% of the stock is currently owned by 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.