Open Lending (NASDAQ:LPRO) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Open Lending (NASDAQ:LPRO) released its earnings results on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01), Briefing.com reports. Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The business had revenue of $30.75 million during the quarter, compared to analyst estimates of $28.65 million. During the same period last year, the business earned $0.10 EPS. The business’s quarterly revenue was down 19.9% compared to the same quarter last year.

Open Lending Price Performance

LPRO stock traded up $0.11 during trading on Wednesday, hitting $5.40. The company had a trading volume of 152,394 shares, compared to its average volume of 450,028. The company has a current ratio of 14.08, a quick ratio of 14.08 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average price of $6.00 and a two-hundred day moving average price of $6.75. Open Lending has a fifty-two week low of $4.57 and a fifty-two week high of $11.99. The company has a market cap of $641.95 million, a P/E ratio of 31.12 and a beta of 1.03.

Insiders Place Their Bets

In related news, Director John Joseph Flynn sold 50,000 shares of Open Lending stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $7.35, for a total transaction of $367,500.00. Following the completion of the transaction, the director now directly owns 1,993,762 shares of the company’s stock, valued at approximately $14,654,150.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LPRO. Canaccord Genuity Group lowered their price objective on shares of Open Lending from $7.50 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, March 26th. JMP Securities restated a “market outperform” rating and set a $8.00 price objective on shares of Open Lending in a report on Tuesday, March 26th. Morgan Stanley upgraded shares of Open Lending from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $4.00 to $7.00 in a research note on Tuesday, February 6th. Needham & Company LLC reduced their price objective on Open Lending from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Raymond James restated an “outperform” rating and set a $8.00 price objective on shares of Open Lending in a research report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.93.

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.