Openlane (NYSE:OPLN) Stock Has Average Price Target of $43.83 According to Analysts

Openlane (NYSE:OPLN) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $43.83.

A number of equities analysts recently issued reports on the stock. Northcoast Research set a $50.00 price target on shares of Openlane in a research note on Wednesday, August 5th. Zacks Research cut Openlane from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a report on Wednesday, August 26th. Wall Street Zen lowered Openlane from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Barclays increased their target price on Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th.

Key Stories Impacting Openlane

Here are the key news stories impacting Openlane this week:

• Positive Sentiment: A recent article highlights raised earnings guidance as a potential reason to reassess OPENLANE’s investment outlook. The company also recently reported quarterly EPS of $0.43, above the $0.39 consensus estimate, and revenue growth of 12.6% year over year. Raised Earnings Guidance Might Change The Case For Investing In OPENLANE (OPLN)
• Neutral Sentiment: EVP James Coyle sold 80,755 shares for about $2.84 million, reducing his direct ownership by 62.29%. The filing says the sale was to cover tax withholding obligations tied to vested equity awards, which makes it less clearly a negative signal about the business. Openlane Stock: Insider James Coyle Sells 80,755 Shares
• Negative Sentiment: EVP Charles Coleman also reported selling 38,094 shares for about $1.36 million, a reduction of roughly one-third of his position. Insider sales can weigh on investor sentiment, although the reports do not give a reason for this sale. Openlane insider transaction report

Insider Buying and Selling

In other Openlane news, EVP Charles S. Coleman sold 38,094 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $35.65, for a total value of $1,358,051.10. Following the completion of the transaction, the executive vice president owned 74,334 shares in the company, valued at approximately $2,650,007.10. This represents a 33.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter J. Kelly acquired 14,830 shares of the stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $33.72 per share, with a total value of $500,067.60. Following the transaction, the chief executive officer directly owned 14,830 shares of the company’s stock, valued at approximately $500,067.60. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 119,251 shares of company stock valued at $4,215,931 over the last ninety days. Company insiders own 2.22% of the company’s stock.

Institutional Trading of Openlane

Hedge funds and other institutional investors have recently modified their holdings of the business. Hawk Ridge Capital Management LP grew its stake in shares of Openlane by 72.5% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock valued at $144,792,000 after acquiring an additional 2,087,200 shares during the period. Ranger Investment Management L.P. purchased a new stake in Openlane in the 2nd quarter worth approximately $18,146,000. Prospect Capital Advisors LLC purchased a new stake in Openlane in the 1st quarter worth approximately $2,437,000. The Manufacturers Life Insurance Company bought a new stake in Openlane during the 2nd quarter worth approximately $2,110,000. Finally, Quantinno Capital Management LP raised its stake in Openlane by 290.6% during the 1st quarter. Quantinno Capital Management LP now owns 55,922 shares of the company’s stock worth $1,630,000 after acquiring an additional 41,604 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

Openlane Price Performance

Shares of OPLN stock opened at $34.87 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.16. Openlane has a fifty-two week low of $24.32 and a fifty-two week high of $42.90. The firm has a market cap of $4.28 billion, a P/E ratio of -47.13, a P/E/G ratio of 1.69 and a beta of 1.35. The business’s 50 day moving average price is $35.96 and its 200-day moving average price is $34.32.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $561.20 million during the quarter. Openlane had a return on equity of 12.74% and a net margin of 9.23%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Openlane will post 1.49 earnings per share for the current year.

Openlane Company Profile

OPENLANE operates a digital marketplace for wholesale used vehicles, connecting vehicle sellers—including dealers, fleet operators, financial institutions and manufacturers—with professional buyers. Its online auction platform supports the buying and selling of vehicles across multiple channels.

The company also provides services that support wholesale transactions, such as vehicle condition information, title processing and transportation coordination. OPENLANE serves customers in the United States, Canada and Europe.

The business was previously known as KAR Global and adopted the OPENLANE name in 2023.