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

Openlane (NYSE:OPLN) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $31.00 to $33.00 in a research note issued to 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.

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

Openlane Trading Up 4.7%

Shares of Openlane stock traded up $1.68 during trading hours on Thursday, reaching $37.62. The stock had a trading volume of 1,246,417 shares, compared to its average volume of 900,206. The business’s 50 day simple moving average is $29.36. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -36.88 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. Openlane has a 1 year low of $20.53 and a 1 year high of $38.21.

Openlane (NYSE:OPLN) last released its quarterly earnings data 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 business 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 business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Sell-side analysts forecast that Openlane will post 1.34 EPS for the current year.

Insider Activity

In other news, EVP James P. Coyle sold 88,444 shares of Openlane stock in a transaction that occurred on 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 owned 63,869 shares in the company, valued at $1,841,343.27. This trade represents a 58.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.22% of the stock is owned by corporate insiders.

Institutional Trading of Openlane

Hedge funds have recently made changes to their positions in the company. Paradice Investment Management LLC purchased a new stake in shares of Openlane during the fourth quarter valued at approximately $23,837,000. State of Alaska Department of Revenue purchased a new stake in shares of Openlane during the fourth quarter valued at approximately $2,211,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Openlane during the fourth quarter valued at approximately $649,000. Guidance Capital Inc. purchased a new stake in shares of Openlane during the fourth quarter valued at approximately $770,000. Finally, Strs Ohio purchased a new stake in shares of Openlane during the fourth quarter valued at approximately $1,072,000. Hedge funds and other 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.