ACV Auctions Inc. (NASDAQ:ACVA) Receives Average Rating of "Moderate Buy" from Analysts

ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $22.63.

A number of equities research analysts have issued reports on the company. Raymond James assumed coverage on ACV Auctions in a research report on Friday, September 27th. They set a "market perform" rating and a $22.00 price objective on the stock. Needham & Company LLC raised their price target on ACV Auctions from $23.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday. Barrington Research reiterated an "outperform" rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Monday, November 4th. JMP Securities raised their target price on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a "market outperform" rating in a report on Tuesday, September 17th. Finally, Jefferies Financial Group increased their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd.

ACV Auctions Price Performance

Shares of NASDAQ ACVA traded up $0.63 during midday trading on Friday, reaching $20.13. 3,406,375 shares of the stock traded hands, compared to its average volume of 1,211,854. The company's 50 day moving average is $19.06 and its 200 day moving average is $18.31. ACV Auctions has a one year low of $12.84 and a one year high of $21.22. The stock has a market capitalization of $3.35 billion, a PE ratio of -41.94 and a beta of 1.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.02. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. The firm had revenue of $160.62 million for the quarter, compared to the consensus estimate of $156.33 million. On average, equities research analysts anticipate that ACV Auctions will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the sale, the vice president now directly owns 62,956 shares in the company, valued at approximately $1,322,076. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ACV Auctions news, Director Brian Hirsch sold 61,666 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $18.63, for a total transaction of $1,148,837.58. Following the sale, the director now owns 9,239 shares of the company's stock, valued at approximately $172,122.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Peer sold 1,795 shares of the business's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the transaction, the vice president now directly owns 62,956 shares of the company's stock, valued at approximately $1,322,076. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 709,426 shares of company stock worth $13,792,090 in the last ninety days. 8.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACV Auctions

A number of large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of ACV Auctions by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock worth $29,000 after acquiring an additional 884 shares in the last quarter. MCF Advisors LLC increased its stake in ACV Auctions by 107.0% during the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock valued at $30,000 after purchasing an additional 765 shares in the last quarter. Park Place Capital Corp increased its stake in ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company's stock valued at $56,000 after purchasing an additional 706 shares in the last quarter. Amalgamated Bank raised its holdings in shares of ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company's stock worth $93,000 after buying an additional 782 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of ACV Auctions during the third quarter worth $206,000. 88.55% of the stock is currently owned by institutional investors.

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.