Stock analysts predict that Open Lending Co. (NASDAQ: LPRO) will report earnings per share (EPS) of $ 0.15 for the current fiscal quarter, Zacks investment research reports. Four analysts provided revenue estimates for Open Lending, with estimates ranging from $ 0.13 to $ 0.17. Open Lending reported earnings of $ 0.12 per share for the same quarter last year, suggesting a positive growth rate of 25% year-over-year. The company is expected to release its next quarterly earnings report on Tuesday, March 8.
On average, analysts expect Open Lending to report annual earnings of $ 1.09 per share for the current year, with EPS estimates ranging from $ 1.06 to $ 1.12. For the next fiscal year, analysts expect the company to report earnings of $ 0.88 per share, with EPS estimates ranging from $ 0.72 to $ 1.04. Zacks Investment Research earnings per share averages are an average based on a survey of seller-side research companies that provide cover for open loans.
Open Lending (NASDAQ: LPRO) last reported its results on Tuesday, November 9. The company reported EPS of $ 0.23 for the quarter, beating analyst consensus estimates of $ 0.20 by $ 0.03. Open Lending recorded a return on equity of 51.25% and a net margin of 36.64%. The company posted revenue of $ 58.89 million in the quarter, compared to analysts’ expectations of $ 54.88 million. In the same quarter of the previous year, the company made a profit of $ 0.10 per share.
LPRO has been the subject of a number of recent research reports. TheStreet downgraded Open Lending from a “c-” rating to a “d +” rating in a report released on Friday, November 19. Zacks investment research upgraded Open Lending from a “strong sell” rating to a “conservation” rating in a Tuesday, November 9th research note. Needham & Company LLC reduced its price target on Open Lending from $ 53.00 to $ 40.00 and set a “buy” rating on the stock in a research report released on Wednesday, November 10. Morgan Stanley reduced its target price on Open Lending from $ 40.00 to $ 29.00 and set an “equal weight” rating on the stock in a research report released on Friday, November 12. Finally, Raymond James lowered his price target on Open Lending from $ 52.00 to $ 44.00 and established a “strong buy” rating on the stock in a research report on Thursday, November 11. Four analysts gave the stock a conservation rating, six issued a buy rating and one gave the company a high buy rating. According to MarketBeat data, the company currently has a consensus rating of “Buy” and an average target price of $ 41.82.
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In other Open Lending news, the director Gene Yoon sold 221,626 shares of the company in a transaction that took place on Thursday, September 9. The shares were sold for an average price of $ 41.60, for a total value of $ 9,219,641.60. The sale was disclosed in a document filed with the SEC, which can be accessed via this hyperlink. Also, initiate John joseph flynn sold 30,000 shares in a transaction that took place on Monday, September 20. The shares were sold at an average price of $ 38.55, for a total trade of $ 1,156,500.00. Disclosure of this sale can be found here. Insiders have sold 386,876 shares of the company valued at $ 14,828,654 in the past ninety days. Company insiders own 25.96% of the company’s shares.
A number of hedge funds have recently increased or reduced their holdings in LPRO. BlackRock Inc. increased its holdings of Open Lending shares by 246.5% during the 2nd quarter. BlackRock Inc. now owns 6,659,299 shares of the company valued at $ 286,948,000 after purchasing an additional 4,737,570 shares in the last quarter. State Street Corp increased its position in Open Lending by 464.8% in the 2nd quarter. State Street Corp now owns 2,187,630 shares of the company valued at $ 94,265,000 after purchasing an additional 1,800,281 shares during the last quarter. Victory Capital Management Inc. increased its position in Open Lending by 1,492.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,674,433 shares of the company valued at $ 72,151,000 after purchasing an additional 1,569,303 shares during the last quarter. Wasatch Advisors Inc. strengthened its position in Open Lending equities by 12.4% during the 2nd quarter. Wasatch Advisors Inc. now owns 13,362,208 shares of the company valued at $ 575,778,000 after acquiring an additional 1,472,114 shares during the last quarter. Finally, Macquarie Group Ltd. strengthened its position in open lending equities by 2,853.7% during the second quarter. Macquarie Group Ltd. now owns 1,349,146 shares of the company valued at $ 58,135,000 after acquiring 1,303,469 additional shares in the last quarter. Institutional investors hold 80.95% of the shares of the company.
Open Lending stock traded up $ 0.98 at midday Monday, reaching $ 22.62. The company’s shares had a trading volume of 792,390 shares, compared to its average volume of 1,023,129. The company has a market capitalization of $ 2.85 billion, a PE ratio of 38.34 and a beta of 0.34. Open Lending has a minimum of $ 20.92 over 1 year and a maximum of $ 44.00 over 1 year. The company has a current ratio of 9.71, a rapid ratio of 9.71 and a debt ratio of 1.13. The stock’s fifty-day moving average is $ 31.03 and its two-hundred-day moving average is $ 36.04.
Open Loan Company Profile
Open Lending Corp. provides loan activation and risk analysis to credit unions, regional banks, and OEM Captives. It specializes in risk-based pricing and modeling and provides automated decision technology to auto lenders across the United States.
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