Brokerages Set Open Lending Co. (NASDAQ:LPRO) Target Price at $6.83

Open Lending Co. (NASDAQ:LPRO) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.39.

Several analysts have commented on the company. Needham & Company LLC raised Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Wednesday, January 29th. Jefferies Financial Group downgraded Open Lending from a “buy” rating to a “hold” rating and decreased their price target for the stock from $8.00 to $3.70 in a report on Thursday.

Open Lending Stock Up 5.8 %

Shares of NASDAQ:LPRO opened at $3.26 on Thursday. The firm has a fifty day moving average price of $5.15 and a 200 day moving average price of $5.65. Open Lending has a 1-year low of $2.95 and a 1-year high of $6.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The stock has a market cap of $389.08 million, a P/E ratio of 108.67 and a beta of 1.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Wasatch Advisors LP grew its stake in shares of Open Lending by 0.6% during the 4th quarter. Wasatch Advisors LP now owns 16,736,229 shares of the company’s stock worth $99,915,000 after purchasing an additional 105,449 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $75,554,000 after buying an additional 920,630 shares in the last quarter. Vanguard Group Inc. grew its position in Open Lending by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock worth $60,768,000 after buying an additional 160,617 shares during the period. State Street Corp increased its holdings in Open Lending by 2.6% in the third quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after buying an additional 63,450 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Open Lending by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,393,519 shares of the company’s stock valued at $14,293,000 after acquiring an additional 28,253 shares during the period. Hedge funds and other 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.