Open Lending (NASDAQ:LPRO) Price Target Cut to $18.00 by Analysts at Deutsche Bank Aktiengesellschaft

Open Lending (NASDAQ:LPRO – Get Rating) had its price target cut by investment analysts at Deutsche Bank Aktiengesellschaft from $25.00 to $18.00 in a research note issued on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 26.76% from the stock’s current price.

Several other research firms have also issued reports on LPRO. Zacks Investment Research lowered Open Lending from a “hold” rating to a “strong sell” rating in a report on Thursday, April 28th. Needham & Company LLC reduced their target price on shares of Open Lending from $40.00 to $27.00 and set a “buy” rating for the company in a report on Friday, February 25th. Morgan Stanley decreased their target price on shares of Open Lending from $16.50 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, April 22nd. Raymond James decreased their target price on shares of Open Lending from $30.00 to $22.00 in a research note on Friday. Finally, DA Davidson decreased their target price on shares of Open Lending from $46.00 to $40.00 in a research note on Thursday, February 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.67.

LPRO opened at $14.20 on Friday. The company’s 50 day moving average is $17.41 and its 200 day moving average is $21.46. The company has a current ratio of 16.81, a quick ratio of 16.81 and a debt-to-equity ratio of 0.90. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 20.29 and a beta of 0.56. Open Lending has a 12-month low of $13.39 and a 12-month high of $44.00.

Open Lending (NASDAQ:LPRO – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $50.07 million for the quarter, compared to analysts’ expectations of $46.07 million. Open Lending had a net margin of 40.46% and a return on equity of 47.17%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 EPS. As a group, analysts predict that Open Lending will post 0.83 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Stephens Investment Management Group LLC grew its holdings in Open Lending by 77.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 490,154 shares of the company’s stock valued at $9,269,000 after buying an additional 213,653 shares in the last quarter. Stephens Inc. AR grew its holdings in Open Lending by 25.7% during the 1st quarter. Stephens Inc. AR now owns 58,783 shares of the company’s stock valued at $1,112,000 after buying an additional 12,029 shares in the last quarter. Carl Stuart Investment Advisor Inc. purchased a new stake in Open Lending during the 1st quarter valued at approximately $56,000. Envestnet Asset Management Inc. grew its holdings in Open Lending by 35.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 13,080 shares of the company’s stock valued at $247,000 after buying an additional 3,405 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in Open Lending during the 1st quarter valued at approximately $195,000. 86.85% of the stock is owned by institutional investors and hedge funds.

Open Lending Company Profile (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.

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