Q4 2024 EPS Estimates for Open Lending Co. Cut by Analyst (NASDAQ:LPRO)

Open Lending Co. (NASDAQ:LPRO) – Investment analysts at Northland Capmk dropped their Q4 2024 earnings per share (EPS) estimates for shares of Open Lending in a research report issued to clients and investors on Wednesday, May 8th. Northland Capmk analyst M. Grondahl now expects that the company will post earnings per share of $0.07 for the quarter, down from their previous estimate of $0.09. The consensus estimate for Open Lending’s current full-year earnings is $0.28 per share.

A number of other analysts have also recently weighed in on the stock. Raymond James reaffirmed an “outperform” rating and set a $8.00 target price on shares of Open Lending in a research note 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 report on Wednesday. Needham & Company LLC cut their price target on Open Lending from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley raised Open Lending from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $4.00 to $7.00 in a research note on Tuesday, February 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $8.00 price objective on shares of Open Lending in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.79.

Open Lending Price Performance

LPRO stock opened at $5.75 on Friday. The stock has a market cap of $683.54 million, a price-to-earnings ratio of 52.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.08 and a quick ratio of 14.08. The company has a 50 day simple moving average of $5.91 and a 200 day simple moving average of $6.73. Open Lending has a 1 year low of $4.57 and a 1 year high of $11.99.

Open Lending (NASDAQ:LPRO) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The business had revenue of $30.75 million during the quarter, compared to the consensus estimate of $28.65 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue was down 19.9% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Swiss National Bank increased its stake in Open Lending by 1.1% in the third quarter. Swiss National Bank now owns 172,450 shares of the company’s stock valued at $1,262,000 after purchasing an additional 1,800 shares in the last quarter. Russell Investments Group Ltd. increased its position in Open Lending by 15.9% in the 4th quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock valued at $130,000 after buying an additional 2,090 shares in the last quarter. Olympiad Research LP raised its stake in Open Lending by 10.7% during the 4th quarter. Olympiad Research LP now owns 29,219 shares of the company’s stock worth $249,000 after buying an additional 2,832 shares during the period. Victory Capital Management Inc. raised its stake in Open Lending by 27.3% during the 4th quarter. Victory Capital Management Inc. now owns 13,848 shares of the company’s stock worth $118,000 after buying an additional 2,971 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in Open Lending by 3.4% in the fourth quarter. Raymond James Trust N.A. now owns 107,314 shares of the company’s stock worth $913,000 after acquiring an additional 3,556 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Open Lending

In other news, Director John Joseph Flynn sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $7.35, for a total value of $367,500.00. Following the transaction, the director now owns 1,993,762 shares in the company, valued at approximately $14,654,150.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.00% of the company’s stock.

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.