ACV Auctions Inc. (NYSE:ACVA) Receives $10.45 Consensus Target Price from Analysts

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

Several analysts recently commented on ACVA shares. Barrington Research raised shares of ACV Auctions from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 24th. Barclays cut their target price on shares of ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of ACV Auctions in a research note on Tuesday, February 24th. Royal Bank Of Canada raised shares of ACV Auctions to an “outperform” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ACV Auctions in a research note on Friday, March 27th.

Insider Activity at ACV Auctions

In other news, CEO George Chamoun purchased 24,272 shares of ACV Auctions stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $5.05 per share, for a total transaction of $122,573.60. Following the transaction, the chief executive officer owned 2,952,977 shares in the company, valued at $14,912,533.85. The trade was a 0.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

Several hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of ACV Auctions by 72.4% during the 4th quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock worth $27,000 after purchasing an additional 1,421 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in ACV Auctions by 2,573.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock valued at $30,000 after buying an additional 3,629 shares during the last quarter. Aster Capital Management DIFC Ltd grew its stake in ACV Auctions by 298.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,323 shares of the company’s stock valued at $33,000 after buying an additional 2,489 shares during the last quarter. Larson Financial Group LLC grew its stake in ACV Auctions by 38,076.9% in the 4th quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock valued at $40,000 after buying an additional 4,950 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in ACV Auctions by 12,979.5% in the 4th quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock valued at $46,000 after buying an additional 5,711 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Trading Up 1.3%

ACV Auctions stock opened at $5.09 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $5.12 and a two-hundred day moving average price of $7.05. The firm has a market capitalization of $885.15 million, a price-to-earnings ratio of -13.38 and a beta of 1.69. ACV Auctions has a 52-week low of $4.07 and a 52-week high of $17.54.

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

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.