$49.91 Million in Sales Expected for Open Lending Co. (NASDAQ:LPRO) This Quarter

Brokerages expect Open Lending Co. (NASDAQ:LPRO – Get Rating) to report sales of $49.91 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Open Lending’s earnings, with estimates ranging from $46.50 million to $52.97 million. Open Lending posted sales of $61.13 million during the same quarter last year, which would indicate a negative year over year growth rate of 18.4%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Open Lending will report full year sales of $221.91 million for the current year, with estimates ranging from $215.35 million to $233.66 million. For the next year, analysts expect that the business will report sales of $271.07 million, with estimates ranging from $256.85 million to $278.26 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Open Lending.

Open Lending (NASDAQ:LPRO – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $50.07 million during the quarter, compared to analyst estimates of $46.07 million. Open Lending had a net margin of 44.00% and a return on equity of 37.93%. Open Lending’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 earnings per share.

LPRO has been the topic of several analyst reports. Morgan Stanley cut their target price on Open Lending from $16.50 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, April 22nd. Raymond James reduced their target price on shares of Open Lending from $30.00 to $22.00 in a research note on Friday, May 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Open Lending from $25.00 to $18.00 in a research note on Friday, May 6th. Zacks Investment Research raised shares of Open Lending from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, William Blair restated an “outperform” rating on shares of Open Lending in a research report on Friday, May 6th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $32.67.

NASDAQ LPRO traded up $0.52 during trading hours on Friday, hitting $13.17. 2,631,851 shares of the company were exchanged, compared to its average volume of 823,767. Open Lending has a 52 week low of $10.88 and a 52 week high of $44.00. The company has a quick ratio of 17.78, a current ratio of 17.78 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average price of $15.38 and a 200 day moving average price of $19.16. The stock has a market cap of $1.66 billion, a PE ratio of 16.88 and a beta of 0.56.

Large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new position in Open Lending in the fourth quarter worth approximately $28,000. Advisor Group Holdings Inc. grew its stake in Open Lending by 234.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,590 shares of the company’s stock worth $36,000 after purchasing an additional 1,114 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Open Lending in the first quarter worth approximately $41,000. Nisa Investment Advisors LLC grew its stake in Open Lending by 182.5% in the first quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the company’s stock worth $43,000 after purchasing an additional 1,460 shares in the last quarter. Finally, Carl Stuart Investment Advisor Inc. bought a new position in Open Lending in the first quarter worth approximately $56,000. 86.85% of the stock is currently owned by institutional investors.

About Open Lending (Get Rating)

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and non-bank auto finance companies and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.

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