Bank of America Raises Openlane (NYSE:OPLN) Price Target to $44.00

Openlane (NYSE:OPLN) had its price objective lifted by stock analysts at Bank of America from $37.00 to $44.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 11.05% from the stock’s previous close.

Several other analysts also recently weighed in on OPLN. JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and increased their target price for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. Wall Street Zen upgraded Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of Openlane in a research report on Thursday, June 11th. Barclays raised their price objective on shares of Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Openlane has a consensus rating of “Moderate Buy” and an average target price of $40.67.

Openlane Price Performance

Shares of OPLN opened at $39.62 on Thursday. The company has a market cap of $4.20 billion, a P/E ratio of -38.85, a PEG ratio of 2.11 and a beta of 1.26. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. Openlane has a one year low of $24.10 and a one year high of $42.90. The stock has a fifty day moving average price of $37.35.

Openlane (NYSE:OPLN) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $527.90 million during the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Analysts anticipate that Openlane will post 1.31 earnings per share for the current year.

Insider Transactions at Openlane

In other Openlane news, EVP Charles S. Coleman sold 19,763 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total value of $708,701.18. Following the sale, the executive vice president owned 74,334 shares of the company’s stock, valued at $2,665,617.24. The trade was a 21.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James P. Coyle sold 15,000 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total transaction of $536,550.00. Following the completion of the transaction, the executive vice president owned 58,512 shares of the company’s stock, valued at approximately $2,092,974.24. This represents a 20.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 111,972 shares of company stock valued at $4,018,932. Company insiders own 2.22% of the company’s stock.

Institutional Trading of Openlane

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Yousif Capital Management LLC acquired a new position in Openlane in the fourth quarter worth about $857,000. Smith Moore & CO. acquired a new stake in Openlane during the fourth quarter valued at approximately $448,000. State of Alaska Department of Revenue acquired a new stake in Openlane during the fourth quarter valued at approximately $2,211,000. Guidance Capital Inc. bought a new stake in shares of Openlane in the 4th quarter valued at approximately $770,000. Finally, CWM LLC bought a new stake in shares of Openlane in the 4th quarter valued at approximately $320,000. Institutional investors own 99.76% of the company’s stock.

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.