ACV Auctions (NASDAQ:ACVA) Given New $9.00 Price Target at Needham & Company LLC

ACV Auctions (NASDAQ:ACVA) had its target price cut by Needham & Company LLC from $14.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 11.04% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Barrington Research lowered ACV Auctions from an “outperform” rating to a “market perform” rating in a research report on Thursday. The Goldman Sachs Group decreased their target price on ACV Auctions from $26.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Bank of America restated an “underperform” rating and set a $6.00 target price (down from $16.50) on shares of ACV Auctions in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on ACV Auctions from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, July 17th. Finally, JMP Securities decreased their target price on ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 12th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.35.

ACV Auctions Stock Performance

Shares of NASDAQ:ACVA opened at $8.11 on Thursday. The stock has a market capitalization of $1.39 billion, a P/E ratio of -16.54 and a beta of 1.63. ACV Auctions has a 1-year low of $8.07 and a 1-year high of $23.46. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $9.87 and a two-hundred day moving average price of $13.29.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $199.56 million during the quarter, compared to analysts’ expectations of $200.26 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%.The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 EPS. ACV Auctions has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts predict that ACV Auctions will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On ACV Auctions

Several institutional investors have recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of ACV Auctions by 2.1% during the 2nd quarter. Brighton Jones LLC now owns 40,703 shares of the company’s stock worth $660,000 after purchasing an additional 823 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of ACV Auctions by 6.4% during the 2nd quarter. Verdence Capital Advisors LLC now owns 15,845 shares of the company’s stock worth $257,000 after purchasing an additional 960 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of ACV Auctions by 5.7% during the 2nd quarter. SG Americas Securities LLC now owns 27,302 shares of the company’s stock worth $443,000 after purchasing an additional 1,467 shares in the last quarter. Covestor Ltd raised its stake in shares of ACV Auctions by 39.9% during the 3rd quarter. Covestor Ltd now owns 5,785 shares of the company’s stock worth $57,000 after purchasing an additional 1,649 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in ACV Auctions by 13.8% in the 2nd quarter. Bank of Montreal Can now owns 14,384 shares of the company’s stock valued at $233,000 after acquiring an additional 1,746 shares during the period. Institutional investors own 88.55% of the company’s stock.

About ACV Auctions

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.