Equity research analysts expect Open Lending Co. (NASDAQ:LPRO – Get a rating) will report sales of $46.81 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made Open Lending earnings estimates, with the lowest sales estimate standing at $44.70 million and the highest estimate at $49.82 million. Open Lending reported sales of $44.01 million in the same quarter last year, suggesting a positive year-over-year growth rate of 6.4%. The company is due to announce its next results on Tuesday, May 10.
According to Zacks, analysts expect Open Lending to report full-year sales of $222.50 million for the current fiscal year, with estimates ranging from $218.29 million to $230.00 million. dollars. For the next fiscal year, analysts expect the company to record sales of $272.57 million, with estimates ranging from $266.34 million to $274.94 million. Zacks Sell Averages are an average based on a survey of sell-side analysts who provide coverage for Open Lending.
Open Loan (NASDAQ:LPRO – Get a rating) last released its quarterly results on Thursday, February 24. The company reported earnings per share (EPS) of $0.23 for the quarter, beating the consensus estimate of $0.15 by $0.08. The company posted revenue of $51.60 million for the quarter, versus analyst estimates of $43.09 million. Open Lending had a return on equity of 47.17% and a net margin of 40.46%. Open Lending revenue for the quarter increased 30.3% compared to the same quarter last year. During the same period last year, the company achieved EPS of $0.12.
Several analysts have published reports on the company. Raymond James lowered its price target on Open Lending from $44.00 to $30.00 and set a “Strong Buy” rating on the stock in a Tuesday, January 11 research report. DA Davidson lowered its target price on Open Lending from $46.00 to $40.00 in a Thursday, February 3 research report. Needham & Company LLC lowered its price target on Open Lending from $40.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, February 25. Zacks Investment Research raised the Open Lending from a “strong sell” rating to a “hold” rating in a Wednesday, March 2 research report. Finally, Morgan Stanley lowered its price target on Open Lending from $18.00 to $16.50 and set an “equal weight” rating for the company in a Friday, February 25 report. Four research analysts gave the stock a hold rating, four gave the stock a buy rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $36.06.
Major investors have recently changed their positions in the company. Wasatch Advisors Inc. increased its holdings in Open Lending by 9.5% during the fourth quarter. Wasatch Advisors Inc. now owns 16,086,753 shares of the company worth $361,630,000 after purchasing an additional 1,392,801 shares in the last quarter. True Wind Capital Management LP acquired a new position in Open Lending during the fourth quarter worth approximately $169,615,000. BlackRock Inc. increased its position in Open Lending by 2.0% during the fourth quarter. BlackRock Inc. now owns 6,677,363 shares of the company worth $150,106,000 after purchasing an additional 127,856 shares during the period. Washington Harbor Partners LP increased its position in Open Lending by 36.9% during the third quarter. Washington Harbor Partners LP now owns 2,902,749 shares of the company worth $104,702,000 after purchasing an additional 781,947 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Open Lending by 105.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,603,474 shares of the company worth $58,526,000 after purchasing an additional 1,334,307 shares during the period. 86.43% of the shares are held by institutional investors and hedge funds.
LPRO opened at $19.53 on Friday. Open Lending has a 52 week low of $14.90 and a 52 week high of $44.00. The stock has a market capitalization of $2.47 billion, a PE ratio of 27.90 and a beta of 0.38. The company has a 50-day moving average of $18.86 and a 200-day moving average of $26.34. The company has a quick ratio of 16.81, a current ratio of 16.81 and a leverage ratio of 0.90.
About Open Loan (Get a rating)
Open Lending Corporation provides loan activation and risk analytics solutions to credit unions, regional banks, non-bank auto finance companies and captive OEM finance companies in the United States. United. It offers the Lender Protection Program (LPP), which is a software-as-a-service platform that facilitates lending decision-making and automated underwriting by third-party lenders and issuance of insurance against credit defaults through third party insurance providers.
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