Analysts Set Openlane (NYSE:OPLN) Target Price at $40.00

Shares of Openlane (NYSE:OPLN) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $40.6667.

OPLN has been the subject of a number of recent analyst reports. Zacks Research raised shares of Openlane from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Robert W. Baird set a $40.00 price objective on shares of Openlane in a research note on Wednesday, May 6th. Northcoast Research set a $40.00 target price on Openlane in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised Openlane from a “neutral” rating to an “overweight” rating and upped their target price for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th.

Insiders Place Their Bets

In other Openlane news, EVP James P. Coyle sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $536,550.00. Following the transaction, the executive vice president owned 58,512 shares of the company’s stock, valued at $2,092,974.24. This represents a 20.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Tobin P. Richer sold 66,709 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $2,386,180.93. Following the completion of the sale, the executive vice president owned 28,697 shares in the company, valued at approximately $1,026,491.69. The trade was a 69.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 111,972 shares of company stock worth $4,018,932 in the last 90 days. 2.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB lifted its holdings in Openlane by 10.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 31,525 shares of the company’s stock valued at $1,300,000 after buying an additional 2,900 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Openlane in the 2nd quarter worth about $475,000. Versant Capital Management Inc grew its stake in Openlane by 94.2% in the 2nd quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $40,000 after acquiring an additional 475 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Openlane during the first quarter worth approximately $159,000. Finally, Prospect Capital Advisors LLC purchased a new position in shares of Openlane during the first quarter worth approximately $2,437,000. 99.76% of the stock is currently owned by institutional investors.

Openlane Stock Performance

NYSE:OPLN opened at $40.28 on Wednesday. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -39.49, a PEG ratio of 2.34 and a beta of 1.26. The firm’s fifty day moving average is $37.95. Openlane has a fifty-two week low of $24.10 and a fifty-two week high of $42.90. 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 (NYSE:OPLN) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The company had revenue of $527.90 million during the quarter. During the same period in the previous year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Equities analysts forecast that Openlane will post 1.31 EPS 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.