$46.58 Million in Sales Expected for Open Lending Co. (NASDAQ:LPRO) This Quarter

Equities research analysts forecast that Open Lending Co. (NASDAQ:LPROGet Rating) will report $46.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Open Lending’s earnings. The highest sales estimate is $49.64 million and the lowest is $44.37 million. Open Lending posted sales of $44.01 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The firm is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Open Lending will report full year sales of $221.89 million for the current fiscal year, with estimates ranging from $218.29 million to $230.00 million. For the next financial year, analysts forecast that the company will report sales of $275.39 million, with estimates ranging from $266.34 million to $287.69 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Open Lending.

Open Lending (NASDAQ:LPROGet Rating) last posted its earnings results on Thursday, February 24th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. Open Lending had a net margin of 40.46% and a return on equity of 47.17%. The firm had revenue of $51.60 million during the quarter, compared to analyst estimates of $43.09 million. During the same period last year, the firm posted $0.12 earnings per share. Open Lending’s revenue for the quarter was up 30.3% compared to the same quarter last year.

Several brokerages have recently weighed in on LPRO. DA Davidson reduced their target price on Open Lending from $46.00 to $40.00 in a research note on Thursday, February 3rd. Needham & Company LLC reduced their target price on Open Lending from $40.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Raymond James reduced their target price on Open Lending from $44.00 to $30.00 and set a “strong-buy” rating for the company in a research note on Tuesday, January 11th. Deutsche Bank Aktiengesellschaft began coverage on Open Lending in a research note on Tuesday, March 29th. They set a “hold” rating and a $25.00 target price for the company. Finally, Zacks Investment Research raised Open Lending from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 2nd. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.95.

Several institutional investors and hedge funds have recently modified their holdings of LPRO. True Wind Capital Management L.P. acquired a new stake in shares of Open Lending in the 4th quarter worth $169,615,000. Wasatch Advisors Inc. increased its stake in shares of Open Lending by 9.5% in the 4th quarter. Wasatch Advisors Inc. now owns 16,086,753 shares of the company’s stock worth $361,630,000 after acquiring an additional 1,392,801 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Open Lending by 105.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,603,474 shares of the company’s stock worth $58,526,000 after acquiring an additional 1,334,307 shares during the last quarter. Hound Partners LLC acquired a new stake in shares of Open Lending in the 4th quarter worth $21,531,000. Finally, Norges Bank acquired a new stake in shares of Open Lending in the 4th quarter worth $19,628,000. 86.43% of the stock is owned by institutional investors and hedge funds.

Shares of LPRO stock traded down $0.30 on Friday, reaching $15.78. The company’s stock had a trading volume of 576,709 shares, compared to its average volume of 650,267. The company has a current ratio of 16.81, a quick ratio of 16.81 and a debt-to-equity ratio of 0.90. Open Lending has a 1 year low of $14.90 and a 1 year high of $44.00. The stock’s fifty day simple moving average is $18.55 and its 200-day simple moving average is $23.30. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 22.54 and a beta of 0.36.

About Open Lending (Get Rating)

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and non-bank auto finance companies and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.

Further Reading

Get a free copy of the Zacks research report on Open Lending (LPRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Open Lending (NASDAQ:LPRO)

Receive News & Ratings for Open Lending Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Open Lending and related companies with MarketBeat.com's FREE daily email newsletter.