Q2 2022 EPS Estimates for Open Lending Co. (NASDAQ:LPRO) Reduced by Jefferies Financial Group

Open Lending Co. (NASDAQ:LPRO – Get Rating) – Research analysts at Jefferies Financial Group lowered their Q2 2022 EPS estimates for shares of Open Lending in a research report issued to clients and investors on Thursday, May 5th. Jefferies Financial Group analyst J. Hecht now expects that the company will earn $0.16 per share for the quarter, down from their previous estimate of $0.18. Jefferies Financial Group also issued estimates for Open Lending’s Q4 2022 earnings at $0.24 EPS, FY2022 earnings at $0.80 EPS, Q1 2023 earnings at $0.25 EPS, Q2 2023 earnings at $0.25 EPS, Q3 2023 earnings at $0.29 EPS, Q4 2023 earnings at $0.33 EPS and FY2023 earnings at $1.12 EPS.

Open Lending (NASDAQ:LPRO – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $50.07 million during the quarter, compared to the consensus estimate of $46.07 million. Open Lending had a return on equity of 42.04% and a net margin of 44.00%. Open Lending’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share.

A number of other brokerages also recently commented on LPRO. Needham & Company LLC decreased their price target 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. Morgan Stanley reduced their price objective on Open Lending from $16.50 to $14.00 and set an “equal weight” rating for the company in a report on Friday, April 22nd. William Blair reissued an “outperform” rating on shares of Open Lending in a report on Friday. DA Davidson reduced their price objective on Open Lending from $46.00 to $40.00 in a report on Thursday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Open Lending from $25.00 to $18.00 in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Open Lending currently has an average rating of “Buy” and a consensus target price of $32.67.

Shares of LPRO opened at $14.11 on Monday. 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 capitalization of $1.78 billion, a price-to-earnings ratio of 18.09 and a beta of 0.56. The stock has a 50 day moving average of $17.27 and a 200 day moving average of $21.12. Open Lending has a 12 month low of $13.39 and a 12 month high of $44.00.

A number of large investors have recently bought and sold shares of the stock. Wasatch Advisors Inc. boosted its stake in Open Lending by 9.5% during the fourth quarter. Wasatch Advisors Inc. now owns 16,086,753 shares of the company’s stock valued at $361,630,000 after buying an additional 1,392,801 shares during the period. True Wind Capital Management L.P. purchased a new stake in Open Lending during the fourth quarter valued at about $169,615,000. BlackRock Inc. raised its position in Open Lending by 2.0% during the fourth quarter. BlackRock Inc. now owns 6,677,363 shares of the company’s stock valued at $150,106,000 after purchasing an additional 127,856 shares in the last quarter. Washington Harbour Partners LP raised its position in Open Lending by 36.9% during the third quarter. Washington Harbour Partners LP now owns 2,902,749 shares of the company’s stock valued at $104,702,000 after purchasing an additional 781,947 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Open Lending by 105.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,603,474 shares of the company’s stock valued at $58,526,000 after purchasing an additional 1,334,307 shares in the last quarter. 86.85% of the stock is owned by 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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