Raymond James Cuts Open Lending (NASDAQ:LPRO) Price Target to $30.00

Open Lending (NASDAQ:LPRO) had its target price cut by Raymond James from $44.00 to $30.00 in a research report report published on Tuesday morning, Analyst Ratings Network reports. They currently have a strong-buy rating on the stock.

LPRO has been the topic of several other research reports. JMP Securities cut their target price on Open Lending from $40.00 to $37.00 and set a market outperform rating on the stock in a research report on Wednesday, November 10th. DA Davidson cut their price objective on Open Lending from $50.00 to $46.00 and set a buy rating on the stock in a research report on Friday, November 12th. Morgan Stanley cut their price objective on Open Lending from $40.00 to $29.00 and set an equal weight rating on the stock in a research report on Friday, November 12th. Zacks Investment Research downgraded Open Lending from a hold rating to a strong sell rating in a research report on Thursday, December 9th. Finally, TheStreet downgraded Open Lending from a c- rating to a d+ rating in a research report on Friday, November 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $39.60.

NASDAQ LPRO opened at $19.50 on Tuesday. The company has a market cap of $2.46 billion, a P/E ratio of 33.05 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a quick ratio of 9.71 and a current ratio of 9.71. The business’s 50 day moving average price is $24.12 and its 200-day moving average price is $32.56. Open Lending has a fifty-two week low of $19.45 and a fifty-two week high of $44.00.

Open Lending (NASDAQ:LPRO) last released its earnings results on Tuesday, November 9th. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The firm had revenue of $58.89 million for the quarter, compared to the consensus estimate of $54.88 million. Open Lending had a return on equity of 51.25% and a net margin of 36.64%. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, equities analysts predict that Open Lending will post 0.76 EPS for the current year.

In related news, insider Ross M. Jessup sold 5,250 shares of the company’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $35.05, for a total transaction of $184,012.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Joseph Flynn sold 30,000 shares of the company’s stock in a transaction on Thursday, November 18th. The stock was sold at an average price of $28.32, for a total value of $849,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 95,250 shares of company stock worth $3,103,313 in the last three months. Corporate insiders own 25.96% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors Inc. lifted its stake in shares of Open Lending by 10.0% during the 3rd quarter. Wasatch Advisors Inc. now owns 14,693,952 shares of the company’s stock worth $530,011,000 after purchasing an additional 1,331,744 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Open Lending by 12.1% during the 2nd quarter. Vanguard Group Inc. now owns 9,802,636 shares of the company’s stock worth $422,396,000 after purchasing an additional 1,061,212 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Open Lending by 246.5% during the 2nd quarter. BlackRock Inc. now owns 6,659,299 shares of the company’s stock worth $286,948,000 after purchasing an additional 4,737,570 shares during the last quarter. Washington Harbour Partners LP lifted its stake in shares of Open Lending by 36.9% during the 3rd quarter. Washington Harbour Partners LP now owns 2,902,749 shares of the company’s stock worth $104,702,000 after purchasing an additional 781,947 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Open Lending by 464.8% during the 2nd quarter. State Street Corp now owns 2,187,630 shares of the company’s stock worth $94,265,000 after purchasing an additional 1,800,281 shares during the last quarter. Hedge funds and other institutional investors own 80.02% of the company’s stock.

Open Lending Company Profile

Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). It specializes in risk-based pricing and modeling and provides automated decision-technology for automotive lenders throughout the United States.

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Analyst Recommendations for Open Lending (NASDAQ:LPRO)

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