Morgan Stanley cuts target price for open loans (NASDAQ:LPRO) to $14.00

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Open Loan (NASDAQ:LPRO – Get a Rating) had its target price lowered by Morgan Stanley analysts from $16.50 to $14.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would point to a potential upside of 0.29% from the stock’s previous close.

A number of other analysts have also released reports on the stock. Zacks Investment Research upgraded shares of Open Lending from a “strong sell” rating to a “hold” rating in a Wednesday, March 2 research note. DA Davidson lowered its price target on Open Lending shares from $46.00 to $40.00 in a Thursday, Feb. 3 research note. Raymond James lowered his price target on Open Lending stock from $44.00 to $30.00 and set a “Strong Buy” rating on the stock in a Tuesday, Jan. 11 research note. Needham & Company LLC lowered its price target on Open Lending stock from $40.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, February 25. Finally, Deutsche Bank Aktiengesellschaft assumed coverage for Open Lending stocks in a Tuesday, March 29 research note. They set a “holding” rating and a price target of $25.00 on the stock. Four analysts gave the stock a hold rating, four gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $34.33.

The NASDAQ LPRO traded at $0.23 midday on Friday, hitting $13.96. The company’s stock had a trading volume of 5,710 shares, compared to an average volume of 804,981. Open Lending has a 52-week low of $14.13 and a 52-week high of $44.00. The stock’s fifty-day simple moving average is $18.23 and its two-hundred-day simple moving average is $22.83. The company has a debt ratio of 0.90, a current ratio of 16.81 and a quick ratio of 16.81. The company has a market capitalization of $1.76 billion, a P/E ratio of 20.06 and a beta of 0.36.

Open Lending (NASDAQ:LPRO – Get Rating) last released its quarterly results on Thursday, February 24. The company reported EPS of $0.23 for the quarter, beating Thomson Reuters 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 net margin of 40.46% and a return on equity of 47.17%. Open Lending revenue for the quarter increased 30.3% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $0.12. On average, stock analysts expect Open Lending to post 0.83 earnings per share for the current fiscal year.

Several hedge funds have recently increased or reduced their holdings in LPRO. True Wind Capital Management LP acquired a new stake in shares of Open Lending during the fourth quarter worth approximately $169,615,000. Wasatch Advisors Inc. increased its holdings in Open Lending by 9.5% in 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 during the period. Massachusetts Financial Services Co. MA increased its holdings in Open Lending by 105.1% in 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. Bernzott Capital Advisors acquired a new position in Open Lending in the first quarter worth $22,345,000. Finally, Hound Partners LLC acquired a new position in Open Lending in the fourth quarter worth $21,531,000. 86.43% of the shares are held by institutional investors and hedge funds.

Open Loan Company Profile (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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