Open Lending (NASDAQ:LPRO) Issues Quarterly Earnings Results

Open Lending (NASDAQ:LPRO) issued its quarterly earnings results on Monday. The company reported ($1.21) EPS for the quarter, missing the consensus estimate of $0.02 by ($1.23), Briefing.com reports. The company had revenue of $24.23 million for the quarter, compared to analyst estimates of $24.03 million. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. During the same period last year, the company posted ($0.04) earnings per share.

Open Lending Price Performance

Open Lending stock opened at $2.76 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The stock’s 50 day moving average is $4.90 and its 200 day moving average is $5.55. Open Lending has a one year low of $2.23 and a one year high of $6.97. The firm has a market cap of $329.41 million, a P/E ratio of 92.00 and a beta of 1.25.

Wall Street Analysts Forecast Growth

LPRO has been the subject of a number of research analyst reports. Needham & Company LLC upgraded Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Wednesday, January 29th. Jefferies Financial Group cut Open Lending from a “buy” rating to a “hold” rating and cut their price target for the company from $8.00 to $3.70 in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Open Lending has an average rating of “Hold” and a consensus price target of $6.12.

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.