According to Zacks, “Open Lending LLC, through its flagship product, Lenders Protection, offers loan analytics, risk-based pricing, risk modeling and default insurance, ensuring profitable auto loan portfolios for financial institutions. Open Lending LLC, formerly known as Nebula Acquisition Corporation, is based in AUSTIN, Texas. “
Several other research firms also recently issued reports on LPRO. Canaccord Genuity restated a buy rating on shares of Open Lending in a report on Monday, September 21st. ValuEngine upgraded shares of Open Lending from a sell rating to a hold rating in a report on Thursday, October 1st. JMP Securities initiated coverage on shares of Open Lending in a research note on Thursday, October 1st. They issued an outperform rating and a $31.00 price objective for the company. DA Davidson initiated coverage on shares of Open Lending in a research note on Wednesday, September 23rd. They set a buy rating and a $29.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Open Lending from $23.00 to $32.00 and gave the company a buy rating in a research note on Friday, October 2nd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $28.33.
Open Lending (NASDAQ:LPRO) last issued its earnings results on Tuesday, August 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.10). The company had revenue of $22.07 million during the quarter, compared to analyst estimates of $19.40 million. Equities analysts forecast that Open Lending will post -0.1 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Open Lending during the third quarter valued at $371,000. Atlas Capital Advisors LLC purchased a new stake in shares of Open Lending during the 3rd quarter worth about $7,650,000. Empowered Funds LLC acquired a new stake in shares of Open Lending during the 3rd quarter valued at about $1,701,000. Finally, Villere ST Denis J & Co. LLC bought a new stake in shares of Open Lending in the 3rd quarter valued at approximately $7,759,000. 19.74% of the stock is currently owned by institutional investors and hedge funds.
Open Lending Company Profile
Open Lending Corporation provides lending enablement and risk analytics solutions to financial institutions in the United States. The company, through its flagship product, Lenders Protection, offers loan analytics, risk-based pricing, risk modeling, and default insurance, ensuring profitable auto loan portfolios for financial institutions.
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