Analysts Set ACV Auctions Inc. (NYSE:ACVA) PT at $10.45

Shares of ACV Auctions Inc. (NYSE:ACVA) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $10.45.

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of ACV Auctions in a research report on Tuesday, February 24th. Barrington Research upgraded shares of ACV Auctions from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 24th. Citigroup downgraded shares of ACV Auctions from a “buy” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $7.00 in a research report on Tuesday, February 24th. The Goldman Sachs Group cut their target price on shares of ACV Auctions from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Finally, B. Riley Financial cut their target price on shares of ACV Auctions from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th.

ACV Auctions Trading Down 0.8%

ACV Auctions stock opened at $5.15 on Friday. The company has a 50 day moving average price of $4.97 and a 200 day moving average price of $6.95. ACV Auctions has a 52 week low of $4.07 and a 52 week high of $17.54. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $895.76 million, a price-to-earnings ratio of -13.54 and a beta of 1.69.

ACV Auctions (NYSE:ACVA) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative return on equity of 6.17% and a negative net margin of 8.71%.The firm had revenue of $183.65 million during the quarter, compared to analyst estimates of $181.96 million. During the same period in the prior year, the business posted ($0.16) EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Research analysts forecast that ACV Auctions will post -0.19 EPS for the current year.

Insider Transactions at ACV Auctions

In related news, CEO George Chamoun bought 24,272 shares of the business’s stock in a transaction on Monday, March 9th. The stock was bought at an average price of $5.05 per share, for a total transaction of $122,573.60. Following the transaction, the chief executive officer directly owned 2,952,977 shares in the company, valued at $14,912,533.85. This represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACV Auctions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atreides Management LP raised its holdings in shares of ACV Auctions by 125.2% during the 4th quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock valued at $99,543,000 after purchasing an additional 6,901,010 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of ACV Auctions by 3.3% during the 3rd quarter. William Blair Investment Management LLC now owns 11,471,709 shares of the company’s stock valued at $113,685,000 after purchasing an additional 362,003 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of ACV Auctions by 301.0% during the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after purchasing an additional 5,475,874 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in shares of ACV Auctions by 30.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock valued at $62,803,000 after purchasing an additional 1,475,932 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of ACV Auctions by 14.1% during the 3rd quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company’s stock valued at $62,753,000 after purchasing an additional 784,411 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Company Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.