Open Lending Corporation (NASDAQ:LPRO) Given Consensus Rating of “Hold” by Analysts

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

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

Open Lending Stock Performance

NASDAQ LPRO opened at $3.13 on Wednesday. Open Lending has a 1 year low of $1.17 and a 1 year high of $3.13. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.44 and a quick ratio of 4.44. The firm has a market cap of $368.34 million, a price-to-earnings ratio of -78.25 and a beta of 2.19. The company has a fifty day moving average price of $2.36 and a 200-day moving average price of $1.85.

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

Hedge Funds Weigh In On Open Lending

Several institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. purchased a new stake in Open Lending during the fourth quarter worth about $28,000. Prudential Financial Inc. bought a new stake in Open Lending in the second quarter worth about $28,000. Dynamic Technology Lab Private Ltd purchased a new position in Open Lending in the first quarter valued at about $43,000. R Squared Ltd grew its position in shares of Open Lending by 32.7% during the 4th quarter. R Squared Ltd now owns 28,590 shares of the company’s stock valued at $44,000 after acquiring an additional 7,047 shares during the period. Finally, Cerity Partners LLC bought a new position in shares of Open Lending during the 2nd quarter valued at approximately $44,000. Institutional investors own 78.06% of the company’s stock.

About Open Lending

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.