Open Lending price target lowered to $7 from $8 at JMP Securities

JMP Securities lowered the firm’s price target on Open Lending to $7 from $8 and keeps an Outperform rating on the shares. Open Lending reported Q2 results that were essentially in line with guidance ranges when excluding a $6.7M reversal of profit-sharing revenue on some 2021/2022 vintages, and the tempered near-term outlook reflects multiple signs of an improving auto sector, offset by ongoing struggles at credit unions, the analyst tells investors in a research note.