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Open Lending Corp Cl A Down 7.17% To $7.45 After Earnings Miss

Wednesday, February 28, 2024 01:58 PM | InvestorsObserver Analysts

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Open Lending Corp Cl A Down 7.17% To $7.45 After Earnings Miss

Open Lending Corp Cl A (LPRO) said after close Tuesday that it lost $0.04 per share in quarter four 2023.

On the revenue line, the company reported $14.9 million, missing estimates by $12.6 million.

In the same quarter a year ago, the company lost $0.03 per share on revenue of $26.8 million.

The stock is down 7.17% to $7.45 after the report.

Despite Open Lending Corp Cl A reporting a decline in revenues, earnings increased signaling a rise in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Open Lending Corp Cl A has performed a little above average during the past few months. Before the report, Open Lending Corp Cl A received a Long-Term Technical Rank by InvestorsObserver of 50, putting it in the top half of stocks. The firm set a 52-week low on November 8, 2023 at $4.89 and set a 52-week high on May 10, 2023 at $11.99.

Open Lending Corp is engaged in providing automated lending services to financial institutions. The company offers loan analytics, risk-based pricing, risk modeling, and automated decision technology. Its Lenders Protection Program (LPP), enables automotive lenders to make loans that are largely insured against losses from defaults.

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