Needham & Company LLC Has Lowered Expectations for Open Lending (NASDAQ:LPRO) Stock Price

Open Lending (NASDAQ:LPRO) had its price target lowered by Needham & Company LLC from $7.00 to $2.00 in a research note issued to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and lowered their target price for the company from $8.00 to $3.70 in a report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Open Lending presently has a consensus rating of “Hold” and an average price target of $4.62.

Open Lending Stock Performance

LPRO stock opened at $1.02 on Wednesday. The stock’s 50 day simple moving average is $4.58 and its 200 day simple moving average is $5.43. Open Lending has a 12-month low of $1.02 and a 12-month high of $6.97. The firm has a market cap of $121.74 million, a P/E ratio of 34.00 and a beta of 1.57. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings results on Monday, March 31st. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.23). Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The business had revenue of $24.23 million during the quarter, compared to the consensus estimate of $24.03 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. As a group, equities research analysts predict that Open Lending will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Open Lending by 7.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock valued at $75,554,000 after buying an additional 920,630 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Open Lending during the 4th quarter valued at $4,326,000. Royce & Associates LP boosted its position in Open Lending by 61.3% during the 4th quarter. Royce & Associates LP now owns 777,035 shares of the company’s stock worth $4,639,000 after acquiring an additional 295,395 shares during the period. Vanguard Group Inc. grew its stake in shares of Open Lending by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock worth $60,768,000 after purchasing an additional 160,617 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in shares of Open Lending during the third quarter valued at $845,000. Institutional investors own 78.06% of the company’s stock.

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.