Open Lending (LPRO) Scheduled to Post Quarterly Earnings on Tuesday

Open Lending (NASDAQ:LPRO) will be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Open Lending has set its Q1 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Open Lending (NASDAQ:LPRO) last posted its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $27.55 million. Open Lending had a net margin of 18.79% and a return on equity of 10.45%. Open Lending’s quarterly revenue was down 44.4% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. On average, analysts expect Open Lending to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Open Lending Stock Performance

NASDAQ:LPRO opened at $5.11 on Friday. The company has a quick ratio of 14.08, a current ratio of 14.08 and a debt-to-equity ratio of 0.68. The firm’s fifty day simple moving average is $6.05 and its 200 day simple moving average is $6.75. The stock has a market cap of $607.46 million, a P/E ratio of 30.06 and a beta of 1.03. Open Lending has a twelve month low of $4.57 and a twelve month high of $11.99.

Insiders Place Their Bets

In other news, Director John Joseph Flynn sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total value of $367,500.00. Following the transaction, the director now directly owns 1,993,762 shares in the company, valued at approximately $14,654,150.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 15.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LPRO has been the topic of several research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $8.00 price target on shares of Open Lending in a research report on Tuesday, March 26th. Raymond James reissued an “outperform” rating and issued a $8.00 target price on shares of Open Lending in a research report on Tuesday, March 26th. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Open Lending in a research report on Wednesday, February 28th. Morgan Stanley raised Open Lending from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. Finally, Canaccord Genuity Group lowered their price objective on Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Open Lending currently has a consensus rating of “Hold” and a consensus target price of $7.07.

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.