Open Lending (NASDAQ:LPRO) Issues Quarterly Earnings Results

Open Lending (NASDAQ:LPRO) announced its earnings results on Monday. The company reported ($1.21) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.23), Briefing.com reports. The business had revenue of $24.23 million for the quarter, compared to the consensus estimate of $24.03 million. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. During the same quarter last year, the firm posted ($0.04) EPS.

Open Lending Stock Performance

Shares of Open Lending stock traded down $0.04 during trading on Monday, hitting $2.76. 3,253,224 shares of the company’s stock traded hands, compared to its average volume of 461,013. Open Lending has a 1 year low of $2.25 and a 1 year high of $6.97. The business has a 50-day simple moving average of $4.94 and a 200-day simple moving average of $5.57. The stock has a market capitalization of $329.41 million, a P/E ratio of 92.00 and a beta of 1.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42.

Analyst Ratings Changes

Several research firms recently commented on LPRO. Needham & Company LLC raised shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Wednesday, January 29th. Jefferies Financial Group downgraded Open Lending from a “buy” rating to a “hold” rating and cut their price target for the stock from $8.00 to $3.70 in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.12.

About Open Lending

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.