Openlane (NYSE:OPLN) Price Target Raised to $33.00 at JPMorgan Chase & Co.

Openlane (NYSE:OPLN) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $31.00 to $33.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 12.28% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Robert W. Baird set a $40.00 target price on shares of Openlane in a research report on Wednesday. Northcoast Research set a $40.00 price target on shares of Openlane in a research report on Wednesday. Weiss Ratings cut shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Barclays lifted their price objective on Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Stephens increased their target price on Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Openlane currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Openlane Stock Performance

OPLN stock traded up $1.68 during midday trading on Thursday, hitting $37.62. 1,246,417 shares of the stock were exchanged, compared to its average volume of 900,206. The stock’s 50-day moving average is $29.36. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $3.98 billion, a PE ratio of -36.88 and a beta of 1.22. Openlane has a fifty-two week low of $20.53 and a fifty-two week high of $38.21.

Openlane (NYSE:OPLN) last posted its earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $527.90 million for the quarter. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Research analysts anticipate that Openlane will post 1.34 EPS for the current year.

Insider Activity

In other Openlane news, EVP James P. Coyle sold 88,444 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $28.83, for a total transaction of $2,549,840.52. Following the sale, the executive vice president directly owned 63,869 shares of the company’s stock, valued at $1,841,343.27. This trade represents a 58.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Openlane

Several hedge funds have recently modified their holdings of OPLN. Yousif Capital Management LLC acquired a new stake in shares of Openlane during the 4th quarter worth about $857,000. Smith Moore & CO. acquired a new stake in shares of Openlane in the fourth quarter worth approximately $448,000. State of Alaska Department of Revenue acquired a new stake in shares of Openlane in the fourth quarter worth approximately $2,211,000. Guidance Capital Inc. purchased a new stake in Openlane in the fourth quarter valued at approximately $770,000. Finally, CWM LLC acquired a new position in Openlane during the fourth quarter worth approximately $320,000. 99.76% of the stock is owned by institutional investors and hedge funds.

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.