Open Lending (NASDAQ:LPRO) Given "Outperform" Rating at 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.

Raymond James Financial reiterated their outperform rating on shares of Open Lending (NASDAQ:LPRO - Free Report) in a report published on Thursday, Marketbeat.com reports. They currently have a $2.80 price objective on the stock, up from their previous price objective of $2.50.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC increased their target price on Open Lending from $2.00 to $2.50 and gave the stock a "buy" rating in a report on Friday, May 9th. Stephens initiated coverage on Open Lending in a report on Thursday, June 12th. They set an "equal weight" rating and a $2.50 price objective for the company. Finally, DA Davidson reaffirmed a "buy" rating and issued a $4.00 target price on shares of Open Lending in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $3.10.

Open Lending Trading Down 2.5%

Shares of LPRO traded down $0.06 during trading hours on Thursday, hitting $2.18. 249,474 shares of the stock traded hands, compared to its average volume of 1,747,804. 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 firm has a market capitalization of $260.52 million, a PE ratio of -1.84 and a beta of 1.92. The business has a fifty day moving average of $2.23 and a 200-day moving average of $2.83.

Open Lending (NASDAQ:LPRO - Get Free Report) last announced its quarterly 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 business had revenue of $25.31 million during the quarter, compared to the consensus estimate of $23.63 million. Analysts expect that Open Lending will post 0.1 EPS for the current year.

Institutional Trading of Open Lending

Several institutional investors have recently added to or reduced their stakes in LPRO. R Squared Ltd purchased a new position in Open Lending during the second quarter valued at approximately $28,000. Brighton Jones LLC purchased a new stake in shares of Open Lending during the second quarter worth about $30,000. Summit Securities Group LLC purchased a new stake in shares of Open Lending during the first quarter worth about $32,000. Focus Partners Advisor Solutions LLC purchased a new stake in Open Lending during the 2nd quarter valued at about $32,000. Finally, Blair William & Co. IL acquired a new position in Open Lending in the 2nd quarter valued at about $39,000. Institutional investors own 78.06% of the company's stock.

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.