Analyst Price Target is $22.00
▲ +8.43% Upside Potential
This price target is based on 4 analysts offering 12 month price targets for OPENLANE in the last 3 months. The average price target is $22.00, with a high forecast of $25.00 and a low forecast of $20.00. The average price target represents a 8.43% upside from the last price of $20.29.
Current Consensus is
Moderate Buy
The current consensus among 4 contributing investment analysts is to moderate buy stock in OPENLANE. This rating has held steady since December 2023, when it changed from a Hold consensus rating.
OPENLANE, Inc., together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay. The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles. Its digital marketplaces include OPENLANE, a mobile-app enabled solutions that allows dealers to sell and source inventory in the United States. This segment also provides value-added ancillary services, including inbound and outbound transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative, and collateral recovery services. This segment sells its products and services through vehicle manufacturers, fleet companies, rental car companies, finance companies, and others. The Finance segment offers floorplan financing, a short-term inventory-secured financing to independent used vehicle dealers. The company serves commercial customers and dealer customers. The company was formerly known as KAR Auction Services, Inc. and changed its name to OPENLANE, Inc. in May 2023. OPENLANE, Inc. was incorporated in 2006 and is headquartered in Carmel, Indiana.
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