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

Open Lending (NASDAQ:LPRO) announced its quarterly earnings results on Tuesday. The company reported $0.04 earnings per share 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 analysts’ expectations of $28.65 million. During the same period last year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was down 19.9% on a year-over-year basis.

Open Lending Stock Up 1.4 %

LPRO stock traded up $0.08 during midday trading on Friday, reaching $5.83. The company had a trading volume of 90,722 shares, compared to its average volume of 455,344. Open Lending has a 1 year low of $4.57 and a 1 year high of $11.73. The company has a current ratio of 14.08, a quick ratio of 14.08 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $693.05 million, a P/E ratio of 52.09 and a beta of 1.03. The company has a 50 day moving average of $5.88 and a two-hundred day moving average of $6.73.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $8.00 target price on shares of Open Lending in a research note on Tuesday, March 26th. Morgan Stanley upgraded shares of Open Lending from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $4.00 to $7.00 in a report on Tuesday, February 6th. Canaccord Genuity Group cut their target price on shares of 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 cut their target price on shares of Open Lending from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Raymond James reissued an “outperform” rating and set a $8.00 target price on shares of Open Lending in a research note on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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 shares were sold at an average price of $7.35, for a total value of $367,500.00. Following the completion of the sale, the director now owns 1,993,762 shares in the company, valued at approximately $14,654,150.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.