BTIG Reiterates Neutral Rating on Open Lending (LPRO)

BTIG analyst Vincent Caintic reiterated a Neutral rating on Open Lending (NASDAQ: LPRO).

The analyst comments "LPRO shares are down another 12% this morning after yesterday's 9% drop, after the company announced the postponement of its 4Q24 earnings release and conference call (scheduled for last night) and disclosed that "the Company requires additional time to finalize its accounting and review processes specifically related to its profit share revenue and related contract assets". We doubt this means that profit share will be adjusted upwards. At this point, profit share has been a topic of negative discussion for the past two years. With the stock price at current levels, we prefer Open Lending "kitchen sink" the profit share number, completely writing off the existing asset of $35m and using a lower profit share going forward."

For an analyst ratings summary and ratings history on Open Lending click here. For more ratings news on Open Lending click here.

Shares of Open Lending closed at $3.91 yesterday.

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