Open Lending (NASDAQ:LPRO) Earns Outperform Rating from Raymond James Financial

Key Points

• Raymond James Financial has raised Open Lending's price target from $2.50 to $2.80, implying a potential upside of 21.26% based on its previous close.
• The company's stock currently holds an average rating of "Moderate Buy" from analysts, with consensus price target set at $3.93.
• CEO Jessica E. Buss increased her holdings in Open Lending by purchasing 12,975 shares at an average price of $1.93, marking a 38.76% increase in her ownership.

Open Lending (NASDAQ:LPRO - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Raymond James Financial in a report issued on Thursday, MarketBeat reports. They presently have a $2.80 price objective on the stock, up from their previous price objective of $2.50. Raymond James Financial's target price suggests a potential upside of 24.44% from the stock's previous close.

A number of other research analysts have also weighed in on LPRO. Needham & Company LLC increased their price objective on Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a report on Friday, May 9th. DA Davidson reiterated a "buy" rating and issued a $4.00 price target on shares of Open Lending in a report on Wednesday, April 16th. Finally, Stephens assumed coverage on shares of Open Lending in a research note on Thursday, June 12th. They set an "equal weight" rating and a $2.50 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $3.93.

Open Lending Trading Up 5.1%

Shares of Open Lending stock opened at $2.25 on Thursday. Open Lending has a 12-month low of $0.70 and a 12-month high of $6.92. The firm's 50 day simple moving average is $2.22 and its two-hundred day simple moving average is $2.88. The company has a current ratio of 6.21, a quick ratio of 6.21 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $269.51 million, a price-to-earnings ratio of -1.91 and a beta of 1.92.

Open Lending (NASDAQ:LPRO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $25.31 million during the quarter, compared to analysts' expectations of $23.63 million. Analysts predict that Open Lending will post 0.1 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jessica E. Buss purchased 12,975 shares of the firm's stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $1.93 per share, with a total value of $25,041.75. Following the completion of the acquisition, the chief executive officer owned 46,446 shares of the company's stock, valued at $89,640.78. The trade was a 38.76% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Open Lending

Several institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in Open Lending during the first quarter worth $32,000. Ameriprise Financial Inc. acquired a new position in shares of Open Lending in the fourth quarter worth about $80,000. R Squared Ltd purchased a new stake in shares of Open Lending during the 2nd quarter worth about $28,000. BNP Paribas Financial Markets acquired a new stake in shares of Open Lending during the 4th quarter valued at about $87,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Open Lending during the 1st quarter valued at about $41,000. 78.06% of the stock is owned by hedge funds and other 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.