FY2024 EPS Estimates for Open Lending Cut by Northland Capmk

Open Lending Co. (NASDAQ:LPRO) – Equities research analysts at Northland Capmk decreased their FY2024 earnings estimates for Open Lending in a research note issued on Friday, November 8th. Northland Capmk analyst M. Grondahl now forecasts that the company will earn $0.11 per share for the year, down from their previous forecast of $0.19. The consensus estimate for Open Lending’s current full-year earnings is $0.13 per share. Northland Capmk also issued estimates for Open Lending’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.08 EPS and FY2025 earnings at $0.26 EPS.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Open Lending had a return on equity of 2.17% and a net margin of 4.78%. The firm had revenue of $26.73 million for the quarter, compared to the consensus estimate of $31.03 million. During the same quarter last year, the business posted $0.09 EPS. Open Lending’s revenue for the quarter was down 29.9% on a year-over-year basis.

A number of other brokerages also recently issued reports on LPRO. DA Davidson reduced their price target on Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. JMP Securities decreased their price target on Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. Finally, Morgan Stanley reduced their price objective on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Open Lending has an average rating of “Hold” and a consensus price target of $6.83.

Open Lending Stock Performance

Shares of NASDAQ:LPRO opened at $5.90 on Monday. Open Lending has a 12-month low of $4.57 and a 12-month high of $8.70. The company’s 50 day moving average price is $5.81 and its two-hundred day moving average price is $5.83. The firm has a market cap of $703.58 million, a PE ratio of 196.67 and a beta of 1.13. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Open Lending by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company’s stock valued at $67,337,000 after buying an additional 51,276 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Open Lending by 9.4% during the second quarter. Sei Investments Co. now owns 532,852 shares of the company’s stock worth $2,973,000 after purchasing an additional 45,959 shares during the last quarter. EVR Research LP acquired a new position in shares of Open Lending in the second quarter valued at approximately $2,758,000. Royce & Associates LP raised its holdings in Open Lending by 152.1% in the 3rd quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock valued at $2,948,000 after buying an additional 290,602 shares during the last quarter. Finally, Algert Global LLC boosted its position in Open Lending by 3.7% during the 2nd quarter. Algert Global LLC now owns 398,913 shares of the company’s stock worth $2,226,000 after buying an additional 14,191 shares during the period. Institutional investors own 78.06% of the company’s stock.

Open Lending Company Profile

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.