Openlane (NYSE:OPLN) Stock Has Consensus Target Price of $43.83

Shares of Openlane (NYSE:OPLN - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $43.83.

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

Openlane News Summary

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

Openlane Trading Up 1.5%

Shares of OPLN opened at $34.87 on Tuesday. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of -47.13, a PEG ratio of 1.69 and a beta of 1.35. 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 50 day moving average price of $35.96 and a 200-day moving average price of $34.32.

Openlane (NYSE:OPLN - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $561.20 million for the quarter. Openlane had a net margin of 9.23% and a return on equity of 12.74%. The firm's quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts forecast that Openlane will post 1.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Peter J. Kelly acquired 14,830 shares of the company's stock in a transaction dated Monday, August 24th. The stock was purchased at an average price of $33.72 per share, with a total value of $500,067.60. Following the completion of the purchase, the chief executive officer owned 14,830 shares in the company, valued at $500,067.60. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles S. Coleman sold 38,094 shares of the firm's stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $35.65, for a total transaction of $1,358,051.10. Following the completion of the transaction, the executive vice president owned 74,334 shares in the company, valued at $2,650,007.10. This represents a 33.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 119,251 shares of company stock valued at $4,215,931 in the last ninety days. Company insiders own 2.22% of the company's stock.

Institutional Investors Weigh In On Openlane

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Openlane during the 2nd quarter valued at $660,070,000. Hawk Ridge Capital Management LP increased its position in shares of Openlane by 72.5% in the first 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. Sunriver Management LLC increased its position in shares of Openlane by 1.3% in the first quarter. Sunriver Management LLC now owns 1,518,196 shares of the company's stock valued at $44,255,000 after acquiring an additional 19,634 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Openlane by 7.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,251,247 shares of the company's stock valued at $36,474,000 after acquiring an additional 86,986 shares during the period. Finally, Park West Asset Management LLC bought a new position in shares of Openlane during the second quarter valued at about $46,368,000. 99.76% of the stock is currently owned by institutional investors.

About Openlane

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.

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