ACV Auctions (NASDAQ:ACVA) Given New $26.00 Price Target at Needham & Company LLC

ACV Auctions (NASDAQ:ACVA) had its price objective boosted by investment analysts at Needham & Company LLC from $23.00 to $26.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 31.85% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Monday. Jefferies Financial Group upped their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JMP Securities lifted their price target on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Piper Sandler upped their price objective on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Raymond James initiated coverage on ACV Auctions in a research report on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.63.

ACV Auctions Trading Up 1.1 %

NASDAQ:ACVA traded up $0.22 during trading hours on Friday, hitting $19.72. The stock had a trading volume of 1,534,352 shares, compared to its average volume of 1,203,227. The business’s 50 day moving average is $19.03 and its 200-day moving average is $18.29. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -41.23 and a beta of 1.59. ACV Auctions has a one year low of $12.84 and a one year high of $21.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. The business had revenue of $160.62 million for the quarter, compared to the consensus estimate of $156.33 million. Sell-side analysts anticipate that ACV Auctions will post -0.35 EPS for the current fiscal year.

Insider Activity at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 76,856 shares of ACV Auctions stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $20.26, for a total transaction of $1,557,102.56. Following the completion of the transaction, the chief financial officer now directly owns 503,077 shares of the company’s stock, valued at $10,192,340.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ACV Auctions news, CFO William Zerella sold 76,856 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $20.26, for a total transaction of $1,557,102.56. Following the completion of the sale, the chief financial officer now directly owns 503,077 shares in the company, valued at $10,192,340.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Andrew Peer sold 1,795 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were 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 owns 62,956 shares of the company’s stock, valued at $1,322,076. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 709,426 shares of company stock worth $13,792,090. Company insiders own 8.50% of the company’s stock.

Institutional Trading of ACV Auctions

Several hedge funds and other institutional investors have recently bought and sold shares of ACVA. Park Place Capital Corp grew its holdings in shares of ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after purchasing an additional 706 shares in the last quarter. MCF Advisors LLC increased its holdings in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after buying an additional 765 shares during the period. Amalgamated Bank lifted its holdings in shares of ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after acquiring an additional 782 shares during the period. Blue Trust Inc. boosted its position 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. Finally, Blair William & Co. IL raised its position in ACV Auctions by 14.7% during the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after purchasing an additional 1,626 shares in the last quarter. Institutional investors and hedge funds 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.