ACV Auctions Inc. (NYSE:ACVA) Stock Has Average Price Target of $9.70

by · The Markets Daily

ACV Auctions Inc. (NYSE:ACVA – Get Free Report) has earned an average recommendation of “Hold” from the sixteen analysts that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $9.70.

A number of brokerages have recently issued reports on ACVA. Citigroup lifted their price objective on shares of ACV Auctions from $8.50 to $10.50 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Barrington Research downgraded ACV Auctions from an “outperform” rating to a “strong sell” rating in a research report on Friday, September 11th. Weiss Ratings upgraded ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Bank of America reissued an “underperform” rating on shares of ACV Auctions in a research report on Tuesday, August 11th. Finally, Needham & Company LLC cut ACV Auctions from a “buy” rating to a “hold” rating in a research report on Friday, September 11th.

Get Our Latest Report on ACV Auctions

Institutional Investors Weigh In On ACV Auctions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACVA. Atreides Management LP grew its stake in shares of ACV Auctions by 125.2% during the fourth quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock worth $99,543,000 after acquiring an additional 6,901,010 shares during the last quarter. Arvin Capital Management LP raised its position in shares of ACV Auctions by 272.8% in the 4th quarter. Arvin Capital Management LP now owns 2,296,913 shares of the company’s stock valued at $18,421,000 after purchasing an additional 1,680,723 shares during the last quarter. 4D Advisors LLC acquired a new stake in ACV Auctions in the 4th quarter worth approximately $6,015,000. Bank of New York Mellon Corp acquired a new stake in ACV Auctions in the 2nd quarter worth approximately $3,996,000. Finally, Norwood Investment Partners LP purchased a new stake in ACV Auctions during the 4th quarter worth approximately $3,892,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

ACV Auctions Price Performance

ACV Auctions stock remained flat at $10.50 during trading hours on Friday. 331 shares of the company’s stock were exchanged, compared to its average volume of 6,939,716. The company has a market capitalization of $1.78 billion, a P/E ratio of -29.17 and a beta of 1.76. The stock has a 50 day moving average of $8.95 and a 200 day moving average of $7.16. ACV Auctions has a fifty-two week low of $4.07 and a fifty-two week high of $10.51. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53.

About ACV Auctions

(Get Free Report)

ACV Auctions Inc operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with buyers and sellers, enabling vehicles to be auctioned online rather than through traditional physical wholesale auctions.

The company provides services intended to support the wholesale vehicle lifecycle, including vehicle listings, digital auctions, condition reports and inspection tools. Its platform also offers related solutions such as transportation coordination, title processing and financing options for eligible dealers.

Founded in 2014 and headquartered in Buffalo, New York, ACV Auctions primarily serves automotive dealers and other participants in the United States wholesale vehicle market.

See Also