Openlane (NYSE:OPLN) Receives $33.50 Consensus Price Target from Analysts

Shares of Openlane (NYSE:OPLN) have received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $33.50.

A number of equities analysts have commented on the stock. Northcoast Research raised shares of Openlane from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Monday, March 30th. Barclays lifted their price objective on shares of Openlane from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their target price on Openlane from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Weiss Ratings downgraded Openlane from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, March 3rd. Finally, Stephens lifted their target price on Openlane from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd.

Insider Buying and Selling at Openlane

In other news, EVP James P. Coyle sold 88,444 shares of Openlane stock in a transaction on Friday, February 20th. The stock was sold at an average price of $28.83, for a total transaction of $2,549,840.52. Following the completion of the sale, the executive vice president owned 63,869 shares of the company’s stock, valued at approximately $1,841,343.27. This trade represents a 58.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.32% of the company’s stock.

Institutional Investors Weigh In On Openlane

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in shares of Openlane during the fourth quarter worth $26,000. First Horizon Corp acquired a new stake in shares of Openlane during the fourth quarter worth $27,000. Allworth Financial LP acquired a new stake in shares of Openlane during the fourth quarter worth $38,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Openlane during the fourth quarter worth $39,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Openlane during the fourth quarter worth $40,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Openlane Price Performance

OPLN stock opened at $31.44 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s fifty day moving average is $29.03. Openlane has a one year low of $18.31 and a one year high of $32.36. The company has a market capitalization of $3.33 billion, a PE ratio of -26.42 and a beta of 1.24.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Openlane had a return on equity of 12.74% and a net margin of 9.19%.The company had revenue of $494.30 million for the quarter. During the same period last year, the business posted $0.21 earnings per share. Openlane’s revenue for the quarter was up 8.6% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.240-1.380 EPS. Research analysts anticipate that Openlane will post 1.34 EPS for the current fiscal year.

About Openlane

Openlane, Inc operates a digital wholesale vehicle marketplace that facilitates the remarketing of used vehicles for commercial consignors and retail dealers. The company provides an online auction platform that enables buyers and sellers to transact in real time, connecting franchised and independent dealers, fleet operators, rental companies, manufacturers and financial institutions. Its marketplace focuses on vehicles from lease returns, fleet and commercial fleets, repossessions and dealer trade-ins.

In addition to the core auction and listing services, Openlane offers a suite of remarketing support services designed to simplify the end-to-end sale process.