Openlane (NYSE:OPLN) Price Target Cut to $28.00 by Analysts at JPMorgan Chase & Co.

Openlane (NYSE:OPLN) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $29.00 to $28.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 8.26% from the stock’s previous close.

Openlane Stock Down 2.5%

OPLN traded down $0.78 during trading on Friday, hitting $30.52. The company had a trading volume of 172,242 shares, compared to its average volume of 719,634. Openlane has a 1-year low of $17.08 and a 1-year high of $31.78.

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.