JPMorgan Chase & Co. Issues Positive Forecast for Openlane (NYSE:OPLN) Stock Price

Openlane (NYSE:OPLN) had its price objective hoisted by JPMorgan Chase & Co. from $28.00 to $29.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Stephens upped their target price on shares of Openlane from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Weiss Ratings initiated coverage on shares of Openlane in a research note on Thursday, January 15th. They set a “buy (b-)” rating for the company. Barclays increased their price objective on shares of Openlane from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Finally, Zacks Research lowered Openlane from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Openlane has a consensus rating of “Moderate Buy” and an average target price of $33.33.

Openlane Stock Down 0.9%

Shares of OPLN stock traded down $0.26 on Thursday, reaching $29.00. 59,013 shares of the company were exchanged, compared to its average volume of 825,241. Openlane has a 1 year low of $17.08 and a 1 year high of $31.78. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.08 billion, a P/E ratio of -24.37, a P/E/G ratio of 1.39 and a beta of 1.24.

Openlane (NYSE:OPLN) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Openlane had a return on equity of 12.74% and a net margin of 9.19%.The firm had revenue of $494.30 million during the quarter. During the same quarter last year, the firm posted $0.21 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.240-1.380 EPS.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. purchased a new stake in Openlane in the fourth quarter valued at $43,820,000. Invesco Ltd. purchased a new position in shares of Openlane during the 4th quarter worth $87,868,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Openlane during the 4th quarter worth about $215,000. State of Tennessee Department of Treasury acquired a new stake in shares of Openlane during the 4th quarter worth about $1,284,000. Finally, Mackenzie Financial Corp purchased a new stake in Openlane in the 4th quarter valued at about $200,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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.