Open Lending (LPRO) Soars 11.7%: Is Further Upside Left in the Stock?

Open Lending (LPRO) shares ended the last trading session 11.7% higher at $6.30. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.5% loss over the past four weeks.Shares of Open Lending rallied for the fourth consecutive trading session. Yesterday, the Needham analyst upgraded the stock’s rating to Buy from Hold on stabilization of the auto lending market. Analyst Kyle Peterson also set a new price target of $7.00. Peterson noted that LPRO’s loan certification volumes are expected to improve this year. This analysis was supported by channel checks with users of the company's core product. So, investors turned bullish on the stock, resulting in a solid rally.This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +150%. Revenues are expected to be $23.97 million, up 60.4% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Open Lending, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LPRO going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Open Lending is part of the Zacks Financial - Consumer Loans industry. Mr Cooper (COOP), another stock in the same industry, closed the last trading session 0.5% lower at $105.36. COOP has returned 10.3% in the past month.Mr Cooper's consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $2.58. Compared to the company's year-ago EPS, this represents a change of +50.9%. Mr Cooper currently boasts a Zacks Rank of #4 (Sell).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Open Lending Corporation (LPRO): Free Stock Analysis Report MR. COOPER GROUP INC (COOP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks