Fintel reports that on August 14, 2023, Canaccord Genuity reiterated coverage of Open Lending (NASDAQ:LPRO) with a Buy recommendation.
Analyst Price Forecast Suggests 43.07% Upside
As of August 2, 2023, the average one-year price target for Open Lending is 11.83. The forecasts range from a low of 6.06 to a high of $21.00. The average price target represents an increase of 43.07% from its latest reported closing price of 8.27.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Open Lending is 172MM, an increase of 11.81%. The projected annual non-GAAP EPS is 0.55.
What is the Fund Sentiment?
There are 362 funds or institutions reporting positions in Open Lending. This is a decrease of 26 owner(s) or 6.70% in the last quarter. Average portfolio weight of all funds dedicated to LPRO is 0.20%, an increase of 8.12%. Total shares owned by institutions decreased in the last three months by 4.36% to 115,372K shares. 
The put/call ratio of LPRO is 1.05, indicating a bearish outlook.
What are Other Shareholders Doing?
Wasatch Advisors holds 17,185K shares representing 14.24% ownership of the company. In it's prior filing, the firm reported owning 17,047K shares, representing an increase of 0.80%. The firm decreased its portfolio allocation in LPRO by 2.76% over the last quarter.
Price T Rowe Associates holds 12,068K shares representing 10.00% ownership of the company. In it's prior filing, the firm reported owning 12,298K shares, representing a decrease of 1.91%. The firm decreased its portfolio allocation in LPRO by 39.88% over the last quarter.
Bregal North America General Partner Jersey holds 7,565K shares representing 6.27% ownership of the company. No change in the last quarter.
Bregal Sagemount Management holds 7,565K shares representing 6.27% ownership of the company. No change in the last quarter.
Bregal Sagemount I holds 7,565K shares representing 6.27% ownership of the company. No change in the last quarter.
Open Lending Background Information
(This description is provided by the company.)
Open Lending provides loan analytics, risk-based pricing, risk modeling and default insurance to auto lenders throughout the United States. For 20 years they have been empowering financial institutions to create profitable auto loan portfolios by saying 'yes' to more automotive loans.
Additional reading:
- Open Lending Reports Second Quarter 2023 Financial Results
- Earnings Supplement Q2 2023 2 23, 159, 221 149, 201, 61 20, 83, 150 3, 102, 170 146, 192, 219 166, 166, 166 Q2 2023 Financial Highlights Q2 2023 (1) See reconciliation of GAAP to non-GAAP financial measures on page 5 (2) Defined as Adj. EBITDA, minus
- FIRST AMENDMENT TO TRANSITION SERVICES AGREEMENT
- Open Lending Reports First Quarter 2023 Financial Results
- Earnings Supplement Q1 2023 2 23, 159, 221 149, 201, 61 20, 83, 150 3, 102, 170 146, 192, 219 166, 166, 166 Q1 2023 Financial Highlights Q1 2023 (1) See reconciliation of GAAP to non-GAAP financial measures on page 6 (2) Defined as Adj. EBITDA, minus
This story originally appeared on Fintel.
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