Open Lending slides after Jefferies downgrades to 'hold'

Shares of Open Lending LPRO.O slide 10.6% to $3.19

Jefferies downgrades lending platform to "hold" from "buy"; cuts PT to $3.70 from $8, which is still a 3.6% upside to stock's last close

Brokerage cites ongoing uncertainties and challenging conditions behind the downgrade

Earlier this week, LPRO delayed its Q4 results as it needs additional time to finalize financial statements

Jefferies says potential accounting issues hinder visibility and may reduce profitability

Higher interest rates and tariffs could also result in lower loan production - brokerage

Five of nine brokerages rate the stock "buy" or higher and four "hold", with a median PT of $7, according to data compiled by LSEG

Stock down 47% YTD