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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 shares of Open Lending 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 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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