Wall Street analysts expect Open Lending Co. (NASDAQ:LPRO – Get Rating) to report $49.91 million in sales for the current fiscal quarter, Zacks reports. Six analysts provided earnings estimates for Open Lending. The highest sales estimate is $52.97 million and the lowest is $46.50 million. Open Lending posted sales of $61.13 million in the same quarter last year, which would indicate a negative growth rate of 18.4% year over year. The company is expected to release its next results on Monday, January 1.
According to Zacks, analysts expect Open Lending to report full-year sales of $221.91 million for the current year, with estimates ranging from $215.35 million to $233.66 million. dollars. For the next fiscal year, analysts expect the company to record sales of $271.07 million, with estimates ranging from $256.85 million to $278.26 million. Zacks sell averages are an average average based on a survey of sell-side analysts who track Open Lending.
Open Lending (NASDAQ:LPRO – Get Rating) last announced its quarterly results on Thursday, May 5. The company reported earnings per share of $0.18 for the quarter, beating consensus analyst estimates of $0.17 by $0.01. The company posted revenue of $50.07 million in the quarter, compared to $46.07 million expected by analysts. Open Lending had a net margin of 44.00% and a return on equity of 37.93%. Open Lending’s quarterly revenue increased 13.8% from the same quarter last year. During the same period of the previous year, the company made earnings per share of $0.15.
LPRO has been the subject of a number of recent analyst reports. DA Davidson lowered its price target on Open Lending shares from $46.00 to $40.00 in a Thursday, February 3 report. William Blair reiterated an “outperforming” rating on Open Lending stocks in a Friday, May 6 research report. Zacks Investment Research upgraded Open Lending shares from a “sell” rating to a “hold” rating in a Tuesday, May 10 research report. Morgan Stanley lowered its target price on Open Lending shares from $16.50 to $14.00 and set an “equal weight” rating on the stock in a Friday, April 22 report. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Open Lending shares from $25.00 to $18.00 in a Friday, May 6 research report. Four investment analysts gave the stock a hold rating, five gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $32.67.
Shares of NASDAQ LPRO opened at $13.11 on Friday. The company has a debt ratio of 0.78, a quick ratio of 17.78 and a current ratio of 17.78. The company has a market capitalization of $1.65 billion, a P/E ratio of 16.81 and a beta of 0.56. Open Lending has a 1 year minimum of $10.88 and a 1 year maximum of $44.00. The company’s 50-day moving average price is $16.02 and its 200-day moving average price is $19.93.
A number of hedge funds have been buying and selling stocks recently. True Wind Capital Management LP acquired a new position in Open Lending in the fourth quarter worth approximately $169,615,000. Wasatch Advisors Inc. increased its stake in Open Lending by 9.5% in Q4. Wasatch Advisors Inc. now owns 16,086,753 shares of the company valued at $361,630,000 after purchasing an additional 1,392,801 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Open Lending by 105.1% in Q4. Massachusetts Financial Services Co. MA now owns 2,603,474 shares of the company valued at $58,526,000 after purchasing an additional 1,334,307 shares during the period. Bernzott Capital Advisors bought a new position in Open Lending in Q1 worth $22,345,000. Finally, Hound Partners LLC bought a new position in Open Lending in Q4 worth $21,531,000. 86.85% of the shares are held by institutional investors and hedge funds.
About Open Loan (Get an assessment)
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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