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

Open Lending (NASDAQ:LPRO) posted its quarterly earnings data 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 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 analyst estimates of $28.65 million. During the same quarter last year, the business earned $0.10 earnings per share. Open Lending’s revenue for the quarter was down 19.9% on a year-over-year basis.

Open Lending Trading Up 1.4 %

LPRO stock traded up $0.08 during trading on Friday, hitting $5.83. The company had a trading volume of 90,722 shares, compared to its average volume of 455,344. The business has a 50-day moving average of $5.88 and a 200-day moving average of $6.73. Open Lending has a one year low of $4.57 and a one year high of $11.73. The stock has a market cap of $693.05 million, a PE ratio of 52.09 and a beta of 1.03. The company has a current ratio of 14.08, a quick ratio of 14.08 and a debt-to-equity ratio of 0.68.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of the 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 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 Securities & Exchange Commission, which is available through this link. Company 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.