ACV Auctions Inc. (NASDAQ:ACVA) Receives $20.21 Consensus Target Price from Brokerages

Shares of ACV Auctions Inc. (NASDAQ:ACVA) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $20.21.

A number of analysts have issued reports on ACVA shares. JMP Securities reissued a “market outperform” rating and issued a $19.00 target price on shares of ACV Auctions in a research report on Wednesday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Thursday, February 22nd. Finally, Northcoast Research raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, January 10th.

ACV Auctions Price Performance

ACVA opened at $17.83 on Tuesday. ACV Auctions has a fifty-two week low of $12.84 and a fifty-two week high of $19.54. The firm has a 50-day moving average of $17.83 and a 200 day moving average of $15.60. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a market cap of $2.92 billion, a P/E ratio of -38.76 and a beta of 1.57.

ACV Auctions (NASDAQ:ACVA) last released its earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $118.38 million during the quarter, compared to the consensus estimate of $117.62 million. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. On average, research analysts expect that ACV Auctions will post -0.29 EPS for the current year.

Insider Transactions at ACV Auctions

In other news, Director Brian Hirsch sold 38,763 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $18.24, for a total value of $707,037.12. Following the completion of the transaction, the director now directly owns 378,390 shares in the company, valued at $6,901,833.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Brian Hirsch sold 38,763 shares of ACV Auctions stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $18.24, for a total transaction of $707,037.12. Following the completion of the sale, the director now owns 378,390 shares of the company’s stock, valued at $6,901,833.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $14.07, for a total value of $457,275.00. Following the transaction, the chief financial officer now owns 305,579 shares of the company’s stock, valued at $4,299,496.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,507,708 shares of company stock valued at $27,126,374. 13.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Park Place Capital Corp lifted its stake in ACV Auctions by 83.2% during the third quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock worth $33,000 after purchasing an additional 990 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of ACV Auctions during the 3rd quarter valued at about $66,000. Allspring Global Investments Holdings LLC bought a new stake in ACV Auctions in the 3rd quarter worth approximately $72,000. UMB Bank n.a. purchased a new stake in ACV Auctions in the first quarter worth approximately $114,000. Finally, Penn Mutual Asset Management LLC bought a new position in ACV Auctions during the fourth quarter valued at approximately $153,000. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company's marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green's seller assurance service for against claims related to defects in the vehicle.