ACV Auctions Inc. (NASDAQ:ACVA) Receives $23.65 Consensus Target Price from Analysts

Shares of ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) have received a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $23.35.

A number of research analysts have weighed in on the stock. Citigroup boosted their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Barrington Research reissued an "outperform" rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. B. Riley boosted their target price on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Needham & Company LLC cut their target price on shares of ACV Auctions from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Piper Sandler boosted their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, November 8th.

ACV Auctions Stock Down 10.0 %

Shares of ACVA stock traded down $2.06 on Monday, hitting $18.59. The company's stock had a trading volume of 7,422,475 shares, compared to its average volume of 1,423,708. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. ACV Auctions has a fifty-two week low of $13.66 and a fifty-two week high of $23.46. The firm's fifty day moving average price is $21.27 and its 200-day moving average price is $20.13. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -39.55 and a beta of 1.69.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. The business had revenue of $159.51 million during the quarter, compared to analyst estimates of $156.77 million. ACV Auctions had a negative net margin of 12.89% and a negative return on equity of 12.11%. Research analysts anticipate that ACV Auctions will post -0.33 EPS for the current year.

Insider Activity at ACV Auctions

In related news, insider Michael Waterman sold 15,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total value of $304,050.00. Following the sale, the insider now owns 311,354 shares of the company's stock, valued at $6,311,145.58. The trade was a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the company's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total transaction of $703,625.00. Following the completion of the sale, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $10,618,935.30. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,162 shares of company stock valued at $2,663,776 over the last quarter. 8.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACV Auctions

Several large investors have recently bought and sold shares of ACVA. Vanguard Group Inc. increased its stake in ACV Auctions by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 14,245,915 shares of the company's stock valued at $307,712,000 after purchasing an additional 738,391 shares in the last quarter. William Blair Investment Management LLC grew its position in ACV Auctions by 43.2% in the fourth quarter. William Blair Investment Management LLC now owns 12,099,686 shares of the company's stock valued at $261,353,000 after purchasing an additional 3,652,871 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in ACV Auctions by 11.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company's stock valued at $175,969,000 after purchasing an additional 897,477 shares in the last quarter. Alliancebernstein L.P. grew its position in ACV Auctions by 5.3% in the fourth quarter. Alliancebernstein L.P. now owns 5,622,255 shares of the company's stock valued at $121,441,000 after purchasing an additional 284,880 shares in the last quarter. Finally, Jennison Associates LLC grew its position in ACV Auctions by 17.2% in the fourth quarter. Jennison Associates LLC now owns 4,980,354 shares of the company's stock valued at $107,576,000 after purchasing an additional 732,422 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

ACV Auctions Company Profile

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.