ACV Auctions (NASDAQ:ACVA) PT Raised to $25.00

ACV Auctions (NASDAQ:ACVA) had its target price lifted by equities researchers at Jefferies Financial Group from $22.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 39.51% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research note on Friday, August 16th. Raymond James initiated coverage on shares of ACV Auctions in a research note on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price on the stock. Finally, JMP Securities lifted their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, ACV Auctions currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

ACV Auctions Price Performance

ACVA stock opened at $17.92 on Tuesday. The firm has a 50 day moving average of $19.22 and a 200-day moving average of $18.29. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. ACV Auctions has a 12 month low of $12.84 and a 12 month high of $21.10. The firm has a market capitalization of $2.96 billion, a P/E ratio of -37.33 and a beta of 1.56.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating 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 company had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. As a group, sell-side analysts predict that ACV Auctions will post -0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $610,675.00. Following the transaction, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at $9,216,156.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Brian Hirsch sold 61,666 shares of ACV Auctions stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $18.63, for a total value of $1,148,837.58. Following the transaction, the director now directly owns 9,239 shares of the company’s stock, valued at $172,122.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $610,675.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $9,216,156.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 741,926 shares of company stock valued at $14,285,765. 8.50% of the stock is currently owned by corporate insiders.

Institutional Trading of ACV Auctions

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after acquiring an additional 884 shares in the last quarter. Park Place Capital Corp boosted its holdings in ACV Auctions by 34.1% in the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares in the last quarter. Amalgamated Bank boosted its holdings in ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after acquiring an additional 782 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in ACV Auctions in the second quarter valued at $225,000. Finally, Blair William & Co. IL boosted its holdings in ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after acquiring an additional 1,626 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

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.