Equity researchers at Deutsche Bank Aktiengesellschaft took over the stock coverage of Open Loan (NASDAQ:LPRO – Get a rating) in a research report published on Tuesday, Fly reports. The company has placed a “holding” rating on the stock.
LPRO has been the subject of several other reports. Raymond James lowered its price target on Open Lending shares from $44.00 to $30.00 and set a “Strong Buy” rating for the company in a Tuesday, January 11 report. Needham & Company LLC cut its price target on Open Lending stock from $40.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, February 25. DA Davidson reduced its price target on Open Lending shares from $46.00 to $40.00 in a Thursday, February 3, research report. Zacks Investment Research upgraded Open Lending shares from a “strong sell” rating to a “hold” rating in a Wednesday, March 2, report. Finally, Morgan Stanley lowered its price target on Open Lending stock from $18.00 to $16.50 and set an “equal weight” rating on the stock in a Friday, Feb. 25 report. Five research analysts gave the stock a hold rating, four gave the company a buy rating and one gave the company a high buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $36.06.
LPRO rose $1.13 during Tuesday’s trading, hitting $20.53. 582,219 shares of the stock were traded, compared to its average volume of 861,672. Open Lending has a twelve-month low of $14.90 and a twelve-month high of $44.00. The company has a market capitalization of $2.59 billion, a price-earnings ratio of 29.33 and a beta of 0.38. The company has a debt ratio of 0.90, a current ratio of 16.81 and a quick ratio of 16.81. The company has a 50-day moving average price of $18.76 and a 200-day moving average price of $25.30.
Open Loan (NASDAQ:LPRO – Get a rating) last reported quarterly earnings data on Thursday, February 24. The company reported EPS of $0.23 for the quarter, beating the consensus estimate of $0.15 by $0.08. Open Lending had a net margin of 40.46% and a return on equity of 47.17%. The company posted revenue of $51.60 million in the quarter, versus a consensus estimate of $43.09 million. In the same period a year earlier, the company had earned earnings per share of $0.12. The company’s revenue increased 30.3% year over year. On average, equity research analysts expect Open Lending to post 0.82 earnings per share for the current year.
Several institutional investors and hedge funds have recently increased or reduced their stake in LPRO. Voya Investment Management LLC increased its position in Open Lending by 1.0% during the third quarter. Voya Investment Management LLC now owns 40,858 shares of the company valued at $1,474,000 after buying 423 additional shares in the last quarter. Valmark Advisers Inc. increased its holdings of Open Lending shares by 3.7% in the 4th quarter. Valmark Advisers Inc. now owns 15,279 shares of the company valued at $343,000 after purchasing an additional 548 shares last quarter. Marathon Capital Management increased its holdings in Open Lending shares by 1.1% in the third quarter. Marathon Capital Management now owns 74,825 shares of the company valued at $2,699,000 after buying an additional 830 shares last quarter. Cubist Systematic Strategies LLC increased its holdings of open lending stocks by 2.2% in Q3. Cubist Systematic Strategies LLC now owns 40,121 shares of the company valued at $1,447,000 after purchasing an additional 852 shares last quarter. Finally, California Public Employees Retirement System increased its holdings of Open Lending shares by 0.4% in the third quarter. California Public Employees Retirement System now owns 229,693 shares of the company valued at $8,285,000 after buying 897 additional shares last quarter. 86.43% of the shares are held by hedge funds and other institutional investors.
Open Loan Company Profile (Get a rating)
Open Lending Corporation provides loan activation and risk analytics solutions to credit unions, regional banks, non-bank auto finance companies and captive OEM finance companies in the United States. United. It offers the Lender Protection Program (LPP), which is a software-as-a-service platform that facilitates lending decision-making and automated underwriting by third-party lenders and issuance of insurance against credit defaults through third party insurance providers.
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