Raymond James Trims Open Lending (NASDAQ:LPRO) Target Price to $22.00

Open Lending (NASDAQ:LPROGet Rating) had its price objective cut by stock analysts at Raymond James from $30.00 to $22.00 in a research report issued to clients and investors on Friday, The Fly reports. Raymond James’ target price points to a potential upside of 54.93% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Morgan Stanley decreased their target price on Open Lending from $16.50 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, April 22nd. Zacks Investment Research cut Open Lending from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 28th. Needham & Company LLC decreased their target price on Open Lending from $40.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, February 25th. DA Davidson decreased their target price on Open Lending from $46.00 to $40.00 in a research report on Thursday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Open Lending in a research report on Tuesday, March 29th. They issued a “hold” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Open Lending has an average rating of “Buy” and a consensus target price of $33.44.

Shares of NASDAQ LPRO opened at $14.20 on Friday. The company has a quick ratio of 16.81, a current ratio of 16.81 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 20.29 and a beta of 0.56. The stock’s fifty day simple moving average is $17.41 and its 200 day simple moving average is $21.46. Open Lending has a 52-week low of $13.39 and a 52-week high of $44.00.

Open Lending (NASDAQ:LPROGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 47.17% and a net margin of 40.46%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. As a group, analysts anticipate that Open Lending will post 0.83 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPRO. Lazard Asset Management LLC acquired a new stake in Open Lending during the fourth quarter valued at $28,000. Advisor Group Holdings Inc. boosted its position in Open Lending by 234.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,590 shares of the company’s stock valued at $36,000 after purchasing an additional 1,114 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Open Lending by 182.5% during the first quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the company’s stock valued at $43,000 after buying an additional 1,460 shares in the last quarter. Carl Stuart Investment Advisor Inc. bought a new position in Open Lending during the first quarter valued at about $56,000. Finally, PNC Financial Services Group Inc. raised its holdings in Open Lending by 97.3% during the third quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $119,000 after buying an additional 1,627 shares in the last quarter. 86.85% of the stock is owned by hedge funds and other institutional investors.

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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