Open Lending Co. (NASDAQ: LPRO) Expected to Post Earnings of $ 0.15 Per Share
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.
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.
Read more: What are Revenue Reports?
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Open Lending right now?
Before you consider Open Lending, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the top five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and Open Lending was not on the list.
While Open Lending currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bids.
See the 5 actions here