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

ACV Auctions Inc. (NYSE:ACVA) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.45.

Several equities analysts have weighed in on ACVA shares. Citigroup downgraded ACV Auctions from a “buy” rating to a “neutral” rating and cut their target price for the company from $13.00 to $7.00 in a research report on Tuesday, February 24th. Barclays decreased their price target on ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Barrington Research raised ACV Auctions from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 24th. B. Riley Financial cut their price objective 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. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a research note on Friday, March 27th.

Insider Buying and Selling 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 shares were 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 of the company’s stock, valued at approximately $14,912,533.85. The trade was a 0.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wealth Alliance LLC acquired a new stake in shares of ACV Auctions in the 1st quarter valued at $60,000. Senvest Management LLC raised its holdings in shares of ACV Auctions by 9.0% during the 1st quarter. Senvest Management LLC now owns 3,530,785 shares of the company’s stock worth $14,971,000 after buying an additional 291,729 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of ACV Auctions during the 1st quarter worth $815,000. Bollard Group LLC bought a new stake in shares of ACV Auctions during the 1st quarter worth $115,000. Finally, Caxton Associates LLP acquired a new stake in ACV Auctions in the first quarter valued at about $130,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

ACV Auctions Stock Up 3.1%

Shares of ACVA opened at $5.90 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46. ACV Auctions has a 12 month low of $4.07 and a 12 month high of $17.16. The firm’s 50 day moving average is $4.96 and its 200-day moving average is $6.63. The stock has a market capitalization of $1.03 billion, a PE ratio of -16.84 and a beta of 1.78.

ACV Auctions (NYSE:ACVA) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.10). The company had revenue of $183.65 million during the quarter, compared to the consensus estimate of $181.96 million. ACV Auctions had a negative net margin of 7.97% and a negative return on equity of 5.52%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) earnings per share. Equities research analysts forecast that ACV Auctions will post -0.19 EPS for the current year.

About ACV Auctions

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.