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Morgan Stanley Lowers Open Lending (NASDAQ:LPRO) Price Target to $16.50


Open Lending (NASDAQ:LPRO – Get Rating) had its price objective cut by investment analysts at Morgan Stanley from $18.00 to $16.50 in a research note issued to investors on Friday, Price Targets.com reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 13.61% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on LPRO. Needham & Company LLC lowered their price objective on shares of Open Lending from $40.00 to $27.00 and set a “buy” rating for the company in a research report on Friday. DA Davidson lowered their price objective on shares of Open Lending from $46.00 to $40.00 in a research report on Thursday, February 3rd. TheStreet cut shares of Open Lending from a “c-” rating to a “d+” rating in a research report on Friday, November 19th. Raymond James lowered their price objective on shares of Open Lending from $44.00 to $30.00 and set a “strong-buy” rating for the company in a research report on Tuesday, January 11th. Finally, Zacks Investment Research cut shares of Open Lending from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.45.

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Shares of Open Lending stock traded up $2.40 during mid-day trading on Friday, reaching $19.10. 32,719 shares of the stock were exchanged, compared to its average volume of 936,494. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 32.81 and a beta of 0.42. The company has a current ratio of 9.71, a quick ratio of 9.71 and a debt-to-equity ratio of 1.13. The firm has a 50-day simple moving average of $20.04 and a 200 day simple moving average of $28.35. Open Lending has a fifty-two week low of $14.90 and a fifty-two week high of $44.00.

Open Lending (NASDAQ:LPRO – Get Rating) last announced its earnings results on Thursday, February 24th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. The business had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $43.09 million. Open Lending had a net margin of 36.64% and a return on equity of 51.25%. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the company posted $0.12 EPS. On average, research analysts predict that Open Lending will post 0.76 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of LPRO. Lazard Asset Management LLC bought a new position in shares of Open Lending in the 4th quarter valued at about $28,000. Advisor Group Holdings Inc. boosted its stake in Open Lending by 234.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,590 shares of the company’s stock worth $36,000 after acquiring an additional 1,114 shares during the last quarter. FORA Capital LLC bought a new position in Open Lending during the 2nd quarter worth approximately $99,000. PNC Financial Services Group Inc. boosted its stake in Open Lending by 97.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $119,000 after acquiring an additional 1,627 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Open Lending by 1,278.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,654 shares of the company’s stock worth $136,000 after acquiring an additional 1,534 shares during the last quarter. 86.43% of the stock is currently owned by institutional investors.

About Open Lending (Get Rating)

Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). It specializes in risk-based pricing and modeling and provides automated decision-technology for automotive lenders throughout the United States.

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