A share of Open Lending Corporation (NASDAQ:LPRO) closed at $6.78 per share on Wednesday, down from $6.90 day before. While Open Lending Corporation has underperformed by -1.74%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, LPRO fell by -64.54%, with highs and lows ranging from $19.15 to $5.35, whereas the simple moving average fell by -19.33% in the last 200 days.
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On February 27, 2023, Raymond James Downgraded Open Lending Corporation (NASDAQ: LPRO) to Outperform. A report published by Stephens on August 05, 2022, Downgraded its rating to ‘Equal-Weight’ for LPRO. Morgan Stanley also Downgraded LPRO shares as ‘Underweight’, setting a target price of $8 on the company’s shares in a report dated July 25, 2022. Deutsche Bank Initiated an Hold rating on March 30, 2022, and assigned a price target of $25. Goldman July 23, 2021d its ‘Buy’ rating to ‘Neutral’ for LPRO, as published in its report on July 23, 2021. Canaccord Genuity’s report from June 28, 2021 suggests a price prediction of $55 for LPRO shares, giving the stock a ‘Buy’ rating. Morgan Stanley also rated the stock as ‘Equal-Weight’.
Analysis of Open Lending Corporation (LPRO)
Further, the quarter-over-quarter decrease in sales is -48.10%, showing a negative trend in the upcoming months.
Open Lending Corporation’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 31.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 18.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and LPRO is registering an average volume of 912.02K. On a monthly basis, the volatility of the stock is set at 4.42%, whereas on a weekly basis, it is put at 3.99%, with a loss of -5.04% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.10, showing growth from the present price of $6.78, which can serve as yet another indication of whether LPRO is worth investing in or should be passed over.
How Do You Analyze Open Lending Corporation Shares?
A giant in the Credit Services market, Open Lending Corporation (LPRO) is based in the USA. When comparing Open Lending Corporation shares with other companies under Financial, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 12.84, there is a growth in quarterly earnings of -115.10%.
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 5.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 93.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in LPRO shares?
The recent increase in stakes in LPRO appears to be a result of several institutional investors and hedge funds increasing their positions. Wasatch Advisors, Inc.’s position in LPRO has decreased by -0.59% in the first quarter. The company now owns 17,047,158 shares of the stock, with a value of $120.69 million, following the sale of -101,524 additional shares during the last quarter. T. Rowe Price Associates, Inc. made another increased to its shares in LPRO during the first quarter, upping its stake by 0.95%. During the last quarter, the company picked up 103,638 additional shares for a total stake of worth $78.06 million, bringing number of shares owned by the company to 11,025,374.
During the first quarter, The Vanguard Group, Inc. added a 101,728 position in LPRO. BlackRock Fund Advisors purchased an additional 0.82 million shares in the last quarter, increasing its holdings by 13.83%, now holding 6.73 million shares worth $47.64 million. At the end of the first quarter, SSgA Funds Management, Inc. decreased its LPRO holdings by -3.90% and now holds 2.33 million LPRO shares valued at $16.5 million with the lessened 94584.0 shares during the period. LPRO shares are owned by institutional investors to the tune of 93.70% at present.
