ACV Auctions (NYSE:ACVA) Price Target Raised to $8.00

ACV Auctions (NYSE:ACVA) had its price target increased by Barclays from $7.00 to $8.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

ACVA has been the subject of a number of other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ACV Auctions in a research note on Wednesday, June 24th. Stephens raised shares of ACV Auctions to a “hold” rating in a report on Monday, June 1st. Finally, Barrington Research lowered ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 price target for the company. in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.23.

ACV Auctions Price Performance

NYSE ACVA opened at $7.78 on Wednesday. ACV Auctions has a 12 month low of $4.07 and a 12 month high of $14.91. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -22.21 and a beta of 1.82. The company’s 50 day moving average is $6.64 and its two-hundred day moving average is $6.27. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46.

Institutional Investors Weigh In On ACV Auctions

A number of hedge funds have recently bought and sold shares of the business. Atreides Management LP grew its stake in shares of ACV Auctions by 125.2% in the 4th quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock worth $99,543,000 after buying an additional 6,901,010 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of ACV Auctions by 301.0% in the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after acquiring an additional 5,475,874 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of ACV Auctions by 14.1% in the 3rd quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company’s stock valued at $62,753,000 after acquiring an additional 784,411 shares during the last quarter. Jennison Associates LLC grew its position in ACV Auctions by 1.5% in the fourth quarter. Jennison Associates LLC now owns 5,766,578 shares of the company’s stock worth $46,248,000 after acquiring an additional 87,959 shares in the last quarter. Finally, State Street Corp grew its position in ACV Auctions by 3.2% in the fourth quarter. State Street Corp now owns 3,853,014 shares of the company’s stock worth $30,901,000 after acquiring an additional 119,079 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

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.