Open Lending (NASDAQ:LPRO) Issues Earnings Results, Misses Expectations By $0.01 EPS

Open Lending (NASDAQ:LPRO) announced its earnings results on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01), Briefing.com reports. Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The business had revenue of $30.75 million for the quarter, compared to analyst estimates of $28.65 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue was down 19.9% on a year-over-year basis.

Open Lending Stock Up 1.8 %

LPRO stock traded up $0.10 during midday trading on Thursday, hitting $5.67. 329,537 shares of the company’s stock were exchanged, compared to its average volume of 454,941. The company has a current ratio of 14.08, a quick ratio of 14.08 and a debt-to-equity ratio of 0.68. Open Lending has a 12-month low of $4.57 and a 12-month high of $11.99. The firm has a 50 day moving average price of $5.95 and a 200-day moving average price of $6.74. The stock has a market capitalization of $674.05 million, a price-to-earnings ratio of 32.76 and a beta of 1.03.

Insiders Place Their Bets

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of Open Lending stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total transaction of $367,500.00. Following the sale, 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 Securities & Exchange Commission, which is available through the SEC website. 15.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on LPRO. Morgan Stanley upgraded Open Lending from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $4.00 to $7.00 in a research report on Tuesday, February 6th. Raymond James reissued an “outperform” rating and set a $8.00 price target on shares of Open Lending in a research report on Tuesday, March 26th. Canaccord Genuity Group reduced their price objective on Open Lending from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday. Needham & Company LLC reduced their price objective on Open Lending from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, JMP Securities reiterated a “market outperform” rating and set a $8.00 target price on shares of Open Lending in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.79.

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.