Open Lending (NASDAQ:LPRO) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Open Lending (NASDAQ:LPROGet Rating) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Open Lending LLC, through its flagship product, Lenders Protection, offers loan analytics, risk-based pricing, risk modeling and default insurance, ensuring profitable auto loan portfolios for financial institutions. Open Lending LLC, formerly known as Nebula Acquisition Corporation, is based in AUSTIN, Texas. “

LPRO has been the topic of a number of other research reports. Morgan Stanley dropped their price target on shares of Open Lending from $16.50 to $14.00 and set an equal weight rating on the stock in a research report on Friday, April 22nd. DA Davidson dropped their price target on shares of Open Lending from $46.00 to $40.00 in a research report on Thursday, February 3rd. Raymond James dropped their price target on shares of Open Lending from $30.00 to $22.00 in a research report on Friday, May 6th. William Blair restated an outperform rating on shares of Open Lending in a research report on Friday, May 6th. Finally, Needham & Company LLC dropped their price target on shares of Open Lending from $40.00 to $27.00 and set a buy rating on the stock in a research report on Friday, February 25th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Open Lending has an average rating of Buy and a consensus target price of $32.67.

LPRO opened at $13.06 on Tuesday. Open Lending has a fifty-two week low of $10.88 and a fifty-two week high of $44.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 17.78 and a quick ratio of 16.81. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 16.74 and a beta of 0.56. The company’s 50 day moving average price is $16.56 and its two-hundred day moving average price is $20.58.

Open Lending (NASDAQ:LPROGet Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Open Lending had a net margin of 44.00% and a return on equity of 37.93%. The firm had revenue of $50.07 million for the quarter, compared to analyst estimates of $46.07 million. During the same period in the previous year, the firm posted $0.15 EPS. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts predict that Open Lending will post 0.81 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. lifted its position in shares of Open Lending by 3.8% during the 1st quarter. Wasatch Advisors Inc. now owns 16,690,164 shares of the company’s stock valued at $315,611,000 after acquiring an additional 603,411 shares during the period. Vanguard Group Inc. raised its holdings in Open Lending by 9.3% during the first quarter. Vanguard Group Inc. now owns 9,887,343 shares of the company’s stock worth $186,970,000 after buying an additional 838,752 shares during the last quarter. True Wind Capital Management L.P. acquired a new position in Open Lending during the fourth quarter worth $169,615,000. BlackRock Inc. raised its holdings in Open Lending by 2.0% during the fourth quarter. BlackRock Inc. now owns 6,677,363 shares of the company’s stock worth $150,106,000 after buying an additional 127,856 shares during the last quarter. Finally, Washington Harbour Partners LP raised its holdings in Open Lending by 36.9% during the third quarter. Washington Harbour Partners LP now owns 2,902,749 shares of the company’s stock worth $104,702,000 after buying an additional 781,947 shares during the last quarter. Institutional investors own 86.85% of the company’s stock.

About Open Lending (Get Rating)

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and non-bank auto finance companies and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.

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