ACV Auctions (NYSE:ACVA) Issues Quarterly Earnings Results

ACV Auctions (NYSE:ACVA) released its earnings results on Monday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.10), FiscalAI reports. ACV Auctions had a negative net margin of 7.97% and a negative return on equity of 5.52%. The business had revenue of $213.94 million for the quarter, compared to the consensus estimate of $214.93 million.

ACV Auctions Stock Performance

NYSE:ACVA traded down $0.22 during mid-day trading on Monday, hitting $7.24. The stock had a trading volume of 7,029,561 shares, compared to its average volume of 3,221,773. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46. The company has a 50 day simple moving average of $6.99 and a 200-day simple moving average of $6.19. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -20.69 and a beta of 1.82. ACV Auctions has a 52 week low of $4.07 and a 52 week high of $13.90.

Institutional Investors Weigh In On ACV Auctions

A number of hedge funds have recently made changes to their positions in ACVA. Wasatch Advisors LP increased its position in 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 period. Alliancebernstein L.P. grew its stake in shares of ACV Auctions by 14.1% in the third quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company’s stock worth $62,753,000 after purchasing an additional 784,411 shares in the last quarter. State Street Corp increased its holdings in shares of ACV Auctions by 3.2% during the fourth quarter. State Street Corp now owns 3,853,014 shares of the company’s stock valued at $30,901,000 after purchasing an additional 119,079 shares during the period. JPMorgan Chase & Co. raised its stake in shares of ACV Auctions by 2.4% during the fourth quarter. JPMorgan Chase & Co. now owns 3,390,841 shares of the company’s stock valued at $27,195,000 after purchasing an additional 78,207 shares in the last quarter. Finally, Senvest Management LLC grew its position in ACV Auctions by 22.9% in the 4th quarter. Senvest Management LLC now owns 3,239,056 shares of the company’s stock valued at $25,977,000 after buying an additional 603,401 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ACVA. Barrington Research raised shares of ACV Auctions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Weiss Ratings raised shares of ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Stephens upgraded ACV Auctions to a “hold” rating in a research note on Monday, June 1st. Finally, Barclays upped their target price on ACV Auctions from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, ACV Auctions currently has an average rating of “Moderate Buy” and an average target price of $10.23.

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.