Open Lending Corporation (NASDAQ:LPRO) Receives Average Rating of "Hold" from Analysts

Key Points

• Open Lending Corporation (NASDAQ: LPRO) has received a consensus rating of "Hold" from seven analysts, with one recommending a sell, three holding, and three buying the stock.
• The average 12-month target price for the stock is $3.10, with recent price targets ranging from $2.50 to $2.80.
• Open Lending reported $0.01 earnings per share for the last quarter, missing estimates, but exceeded revenue expectations with $25.31 million in revenue.

Shares of Open Lending Corporation (NASDAQ:LPRO - Get Free Report) have been given a consensus rating of "Hold" by the seven ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3.10.

A number of analysts have recently weighed in on the stock. Raymond James Financial restated an "outperform" rating and issued a $2.80 price objective (up from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Stephens began coverage on shares of Open Lending in a research note on Thursday, June 12th. They set an "equal weight" rating and a $2.50 target price for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Open Lending in a research note on Saturday, September 27th.

Open Lending Price Performance

Shares of Open Lending stock opened at $2.10 on Monday. The firm has a fifty day simple moving average of $2.18 and a 200-day simple moving average of $1.98. 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 has a 1-year low of $0.70 and a 1-year high of $6.92. The stock has a market capitalization of $248.16 million, a price-to-earnings ratio of -1.78 and a beta of 1.94.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 earnings per share 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 analyst estimates of $23.63 million. On average, sell-side analysts expect that Open Lending will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Open Lending

Large investors have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new position in Open Lending during the 1st quarter valued at $32,000. Ameriprise Financial Inc. acquired a new position in Open Lending during the 4th quarter valued at $80,000. R Squared Ltd acquired a new position in Open Lending during the 2nd quarter valued at $28,000. Prudential Financial Inc. acquired a new position in Open Lending during the 2nd quarter valued at $28,000. Finally, Teacher Retirement System of Texas acquired a new position in Open Lending during the 1st quarter valued at $41,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.