Open Lending Corporation (NASDAQ:LPRO) Receives $2.77 Consensus PT from Brokerages

Open Lending Corporation (NASDAQ:LPRO) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $2.7750.

Several brokerages have recently issued reports on LPRO. Canaccord Genuity Group reaffirmed a “hold” rating and set a $2.00 target price on shares of Open Lending in a research report on Tuesday, March 17th. Northland Securities set a $3.15 target price on shares of Open Lending in a report on Wednesday, June 17th. Wall Street Zen downgraded shares of Open Lending from a “hold” rating to a “sell” rating in a report on Sunday, June 14th. DA Davidson reiterated a “neutral” rating and issued a $3.15 price objective (up from $3.00) on shares of Open Lending in a research report on Friday, June 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Open Lending in a research note on Tuesday, June 9th.

Open Lending Stock Performance

Shares of Open Lending stock opened at $3.14 on Wednesday. The business has a 50-day moving average price of $2.49 and a two-hundred day moving average price of $1.90. Open Lending has a 1-year low of $1.17 and a 1-year high of $3.14. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.00. The company has a market cap of $369.52 million, a P/E ratio of -78.50 and a beta of 2.19.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.00) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The firm had revenue of $20.49 million during the quarter, compared to analyst estimates of $20.41 million. Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. As a group, analysts anticipate that Open Lending will post 0.08 EPS for the current year.

Institutional Trading of Open Lending

A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Open Lending by 84.0% in the 1st quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock valued at $65,000 after acquiring an additional 10,812 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Open Lending in the first quarter worth approximately $43,000. Caxton Associates LLP purchased a new position in shares of Open Lending in the first quarter worth $54,000. Jane Street Group LLC raised its holdings in Open Lending by 2,751.6% during the 1st quarter. Jane Street Group LLC now owns 430,391 shares of the company’s stock valued at $1,188,000 after buying an additional 415,298 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Open Lending by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,564,948 shares of the company’s stock valued at $4,977,000 after buying an additional 98,515 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Open Lending Company Profile

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.