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

by · The Cerbat Gem

ACV Auctions (NASDAQ:ACVA – Free Report) had its price objective cut by Needham & Company LLC from $14.00 to $9.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of ACV Auctions from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, July 17th. JMP Securities dropped their price objective on ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 12th. Jefferies Financial Group decreased their target price on ACV Auctions from $22.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Barrington Research cut shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Stephens lowered their price objective on shares of ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Tuesday, August 12th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ACV Auctions currently has an average rating of “Moderate Buy” and an average target price of $14.75.

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ACV Auctions Stock Performance

Shares of ACVA traded up $0.30 during midday trading on Thursday, hitting $5.39. 11,903,043 shares of the stock traded hands, compared to its average volume of 2,499,834. The business’s 50 day moving average price is $9.74 and its two-hundred day moving average price is $13.23. The firm has a market capitalization of $926.97 million, a PE ratio of -10.99 and a beta of 1.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. ACV Auctions has a 1-year low of $4.95 and a 1-year high of $23.46.

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

Institutional Trading of ACV Auctions

A number of hedge funds have recently modified their holdings of ACVA. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of ACV Auctions during the first quarter valued at $35,000. Covestor Ltd increased its holdings in shares of ACV Auctions by 39.9% in the 3rd quarter. Covestor Ltd now owns 5,785 shares of the company’s stock valued at $57,000 after purchasing an additional 1,649 shares during the period. CWM LLC lifted its position in shares of ACV Auctions by 77.4% in the second quarter. CWM LLC now owns 4,642 shares of the company’s stock worth $75,000 after purchasing an additional 2,026 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of ACV Auctions during the second quarter worth approximately $87,000. Finally, AlphaQuest LLC increased its stake in ACV Auctions by 2,640.6% in the 1st quarter. AlphaQuest LLC now owns 6,687 shares of the company’s stock valued at $94,000 after buying an additional 6,443 shares during the period. Hedge funds and other institutional investors own 88.55% of the company’s stock.

About ACV Auctions

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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.

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