Analysts Set Openlane (NYSE:OPLN) Price Target at $33.50

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

A number of equities research analysts have issued reports on OPLN shares. Barclays raised their target price on Openlane from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Northcoast Research upgraded Openlane from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Monday, March 30th. JPMorgan Chase & Co. raised their target price on Openlane from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Zacks Research upgraded Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Stephens raised their target price on Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd.

Insider Transactions at Openlane

In other Openlane news, EVP James P. Coyle sold 88,444 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $28.83, for a total value of $2,549,840.52. Following the sale, the executive vice president directly owned 63,869 shares in the company, 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 SEC, which can be accessed through this link. Insiders own 2.32% of the company’s stock.

Institutional Investors Weigh In On Openlane

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Openlane in the first quarter valued at $1,284,000. Rockefeller Capital Management L.P. bought a new stake in Openlane in the fourth quarter valued at $72,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Openlane during the fourth quarter valued at about $43,820,000. Invesco Ltd. bought a new stake in shares of Openlane during the fourth quarter valued at about $87,868,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Openlane during the fourth quarter valued at about $215,000. 99.76% of the stock is currently owned by institutional investors.

Openlane Trading Down 0.0%

Shares of Openlane stock opened at $31.85 on Friday. The firm has a market cap of $3.39 billion, a PE ratio of -26.77 and a beta of 1.24. Openlane has a twelve month low of $17.83 and a twelve month high of $32.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.16 and a quick ratio of 1.16. The business’s 50 day moving average is $28.82.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Openlane had a net margin of 9.19% and a return on equity of 12.74%. The company had revenue of $494.30 million for the quarter. During the same period in the prior year, the company earned $0.21 EPS. 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. Sell-side analysts predict that Openlane will post 1.34 earnings per share for the current year.

Openlane Company Profile

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.