Needham Thinks Open Lending’s Stock is Going to Recover

In a report released today, Mayank Tandon from Needham maintained a Buy rating on Open Lending (LPROResearch Report), with a price target of $13.00. The company’s shares closed last Thursday at $10.84, close to its 52-week low of $9.12.

According to TipRanks.com, Tandon is a 5-star analyst with an average return of 11.6% and a 49.8% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Duck Creek Technologies, and Grid Dynamics Holdings.

Currently, the analyst consensus on Open Lending is a Moderate Buy with an average price target of $16.29, representing a 47.4% upside. In a report issued on August 1, D.A. Davidson also maintained a Buy rating on the stock with a $32.00 price target.

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Open Lending’s market cap is currently $1.37B and has a P/E ratio of 8.75.

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nebula Acquisition Corp. operates as a blank check company. It engages in the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded on October 2, 2017 and is headquartered in San Francisco, CA.

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