Analysts Set ACV Auctions Inc. (NASDAQ:ACVA) Price Target at $20.21

ACV Auctions Inc. (NASDAQ:ACVA) has been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $20.21.

A number of equities analysts recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $19.00 price objective on shares of ACV Auctions in a report on Wednesday, April 17th. Northcoast Research raised ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Thursday, February 22nd.

Insider Buying and Selling

In related news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $17.17, for a total transaction of $558,025.00. Following the transaction, the chief financial officer now directly owns 314,151 shares in the company, valued at approximately $5,393,972.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $17.17, for a total value of $558,025.00. Following the sale, the chief financial officer now directly owns 314,151 shares in the company, valued at approximately $5,393,972.67. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Vikas Mehta sold 200,000 shares of ACV Auctions stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $16.48, for a total value of $3,296,000.00. Following the completion of the sale, the chief operating officer now owns 319,036 shares in the company, valued at $5,257,713.28. The disclosure for this sale can be found here. Insiders have sold a total of 1,507,708 shares of company stock worth $27,126,374 in the last ninety days. 13.67% of the stock is owned by insiders.

Institutional Investors Weigh In On ACV Auctions

Large investors have recently made changes to their positions in the business. Park Place Capital Corp grew its position in shares of ACV Auctions by 83.2% in the 3rd quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock worth $33,000 after buying an additional 990 shares during the last quarter. Parkside Financial Bank & Trust bought a new stake in shares of ACV Auctions in the 3rd quarter worth approximately $66,000. Allspring Global Investments Holdings LLC bought a new stake in shares of ACV Auctions during the third quarter valued at approximately $72,000. UMB Bank n.a. bought a new stake in shares of ACV Auctions during the first quarter valued at approximately $114,000. Finally, Penn Mutual Asset Management LLC bought a new stake in shares of ACV Auctions during the fourth quarter valued at approximately $153,000. 88.55% of the stock is currently owned by institutional investors.

ACV Auctions Stock Performance

NASDAQ:ACVA opened at $18.09 on Tuesday. The business’s 50-day moving average price is $17.76 and its two-hundred day moving average price is $15.57. ACV Auctions has a twelve month low of $12.15 and a twelve month high of $19.54. The stock has a market cap of $2.96 billion, a P/E ratio of -39.33 and a beta of 1.57. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $118.38 million for the quarter, compared to analysts’ expectations of $117.62 million. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. As a group, equities analysts predict that ACV Auctions will post -0.29 EPS for the current fiscal year.

About ACV Auctions

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.