Wall Street Zen Upgrades Openlane (NYSE:OPLN) to "Buy"

Openlane (NYSE:OPLN - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Other equities analysts have also issued research reports about the stock. Robert W. Baird set a $40.00 price objective on shares of Openlane in a research report on Wednesday. Stephens boosted their price objective 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 boosted their price objective on shares of Openlane from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Zacks Research raised shares of Openlane from a "strong sell" rating to a "hold" rating in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.00.

Openlane Trading Up 0.6%

Shares of OPLN opened at $37.91 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $4.02 billion, a PE ratio of -37.16 and a beta of 1.22. The business's 50-day simple moving average is $29.59. Openlane has a 12-month low of $21.62 and a 12-month high of $38.49.

Openlane (NYSE:OPLN - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. The company had revenue of $527.90 million during the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The business's revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, analysts forecast that Openlane will post 1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Openlane news, EVP James P. Coyle sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total transaction of $536,550.00. Following the completion of the sale, the executive vice president directly owned 58,512 shares in the company, valued at $2,092,974.24. The trade was a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles S. Coleman sold 19,763 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total transaction of $708,701.18. Following the transaction, the executive vice president owned 74,334 shares in the company, valued at $2,665,617.24. This trade represents a 21.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,916 shares of company stock worth $6,181,273 over the last ninety days. 2.22% of the stock is owned by company insiders.

Institutional Trading of Openlane

Institutional investors and hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC acquired a new stake in shares of Openlane during the fourth quarter worth $26,000. First Horizon Corp acquired a new stake in shares of Openlane during the fourth quarter worth $27,000. Allworth Financial LP acquired a new stake in shares of Openlane during the fourth quarter worth $38,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Openlane during the fourth quarter worth $39,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Openlane during the fourth quarter worth $40,000. 99.76% of the stock is owned by institutional investors and hedge funds.

About Openlane

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.

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