Open Lending (NASDAQ:LPRO) Releases Earnings Results

Open Lending (NASDAQ:LPRO) posted its quarterly earnings results on Tuesday. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01), Briefing.com reports. Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The company had revenue of $30.75 million for the quarter, compared to analysts’ expectations of $28.65 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm’s revenue was down 19.9% on a year-over-year basis.

Open Lending Stock Up 1.7 %

Shares of NASDAQ LPRO traded up $0.09 during midday trading on Wednesday, hitting $5.38. The company’s stock had a trading volume of 144,511 shares, compared to its average volume of 449,897. The firm has a market capitalization of $639.57 million, a price-to-earnings ratio of 31.12 and a beta of 1.03. Open Lending has a 1 year low of $4.57 and a 1 year high of $11.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.08 and a quick ratio of 14.08. The business’s fifty day simple moving average is $6.00 and its two-hundred day simple moving average is $6.75.

Analysts Set New Price Targets

LPRO has been the topic of several recent analyst reports. Raymond James reiterated an “outperform” rating and issued a $8.00 target price on shares of Open Lending in a report on Tuesday, March 26th. JMP Securities reissued a “market outperform” rating and set a $8.00 target price on shares of Open Lending in a research note on Tuesday, March 26th. Needham & Company LLC decreased their price target on Open Lending from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday. Canaccord Genuity Group cut their price objective on Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, March 26th. Finally, Morgan Stanley raised shares of Open Lending from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $4.00 to $7.00 in a research report on Tuesday, February 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.93.

Insider Buying and Selling at Open Lending

In other news, Director John Joseph Flynn sold 50,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total transaction of $367,500.00. Following the sale, the director now owns 1,993,762 shares of the company’s stock, valued at $14,654,150.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.00% of the stock is currently owned by corporate insiders.

Open Lending Company Profile

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.