DA Davidson Cuts Open Lending (NASDAQ:LPRO) Price Target to $4.00

Open Lending (NASDAQ:LPRO) had its price objective lowered by analysts at DA Davidson from $8.00 to $4.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 241.88% from the company’s current price.

LPRO has been the topic of several other research reports. Needham & Company LLC cut their target price on Open Lending from $7.00 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday. Jefferies Financial Group cut shares of 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 report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.62.

Open Lending Stock Down 57.6 %

LPRO opened at $1.17 on Wednesday. The firm has a market cap of $139.64 million, a price-to-earnings ratio of 39.00 and a beta of 1.25. The firm’s 50-day simple moving average is $4.82 and its 200-day simple moving average is $5.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. Open Lending has a twelve month low of $1.12 and a twelve month high of $6.97.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Monday, March 31st. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.23). The company had revenue of $24.23 million for the quarter, compared to analyst estimates of $24.03 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Equities research analysts anticipate that Open Lending will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Open Lending

Several institutional investors and hedge funds have recently modified their holdings of LPRO. R Squared Ltd bought a new stake in shares of Open Lending during the 4th quarter valued at $25,000. Quantbot Technologies LP acquired a new stake in shares of Open Lending during the 4th quarter worth approximately $54,000. Quantinno Capital Management LP bought a new position in Open Lending in the third quarter valued at approximately $68,000. Ameriprise Financial Inc. acquired a new position in Open Lending during the fourth quarter valued at approximately $80,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Open Lending during the 4th quarter worth $87,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.