$46.58 million in sales expected for Open Lending Co. (NASDAQ:LPRO) this quarter
Equity research analysts predict that Open Lending Co. (NASDAQ: LPRO – Get a rating) will report $46.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have released Open Lending earnings estimates. The highest sales estimate is $49.64 million and the lowest is $44.37 million. Open Lending recorded sales of $44.01 million in the same quarter last year, suggesting a positive year-over-year growth rate of 5.8%. The company is due to announce its next earnings report on Monday, January 1.
On average, analysts expect Open Lending to report sales of $221.89 million for the current fiscal year, with estimates ranging from $218.29 million to $230.00 million. For the next fiscal year, analysts expect the company to record sales of $275.39 million, with estimates ranging from $266.34 million to $287.69 million. Zacks Investment Research sell-side averages are an average based on a survey of sell-side research firms that track Open Lending.
Open loan (NASDAQ: LPRO – Get a rating) last released its results on Thursday, February 24. The company reported earnings per share of $0.23 for the quarter, beating consensus analyst estimates of $0.15 by $0.08. Open Lending had a net margin of 40.46% and a return on equity of 47.17%. The company posted revenue of $51.60 million in the quarter, compared to analyst estimates of $43.09 million. During the same period last year, the company posted earnings per share of $0.12. Open Lending revenue for the quarter increased 30.3% compared to the same quarter last year.
Several brokerages have recently weighed in on LPRO. DA Davidson reduced his target price on Open Lending from $46.00 to $40.00 in a Thursday, February 3 research note. Needham & Company LLC reduced its target price on Open Lending from $40.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, February 25. Raymond James cut his price target on Open Lending from $44.00 to $30.00 and set a “Strong Buy” rating for the company in a Tuesday, January 11 research note. Deutsche Bank Aktiengesellschaft began covering open loans in a research note on Tuesday, March 29. They set a “holding” rating and a target price of $25.00 for the business. To finish, Zacks Investment Research raised the Open Lending from a “strong sell” rating to a “hold” rating in a Wednesday, March 2 research note. Five research analysts gave the stock a hold rating, four issued a buy rating and one gave the company’s stock a strong buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.95.
Several institutional investors and hedge funds have recently changed their LPRO holdings. True Wind Capital Management LP acquired a new stake in shares of Open Lending in Q4 for a value of $169,615,000. Wasatch Advisors Inc. increased its stake in Open Lending shares by 9.5% in Q4. Wasatch Advisors Inc. now owns 16,086,753 shares of the company worth $361,630,000 after acquiring an additional 1,392,801 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Open Lending shares by 105.1% in Q4. Massachusetts Financial Services Co. MA now owns 2,603,474 shares of the company worth $58,526,000 after acquiring 1,334,307 additional shares in the last quarter. Hound Partners LLC acquired a new stake in shares of Open Lending in Q4 valued at $21,531,000. Finally, Norges Bank acquired a new stake in the shares of Open Lending in the 4th quarter at a value of $19,628,000. 86.43% of the shares are held by institutional investors and hedge funds.
Shares of LPRO Stock traded at $0.30 on Friday, reaching $15.78. The company’s shares had a trading volume of 576,709 shares, compared to an average volume of 650,267. The company has a current ratio of 16.81, a quick ratio of 16.81 and a debt ratio of 0, 90. Open Lending has a 1 year minimum of $14.90 and a 1 year maximum of $44.00. The stock’s fifty-day simple moving average is $18.55 and its 200-day simple moving average is $23.30. The company has a market capitalization of $1.99 billion, a price-earnings ratio of 22.54 and a beta of 0.36.
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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