ACV Auctions (NASDAQ:ACVA) Price Target Lowered to $11.00 at JPMorgan Chase & Co.

ACV Auctions (NASDAQ:ACVA) had its price objective lowered by JPMorgan Chase & Co. from $18.00 to $11.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

ACVA has been the subject of several other reports. The Goldman Sachs Group reduced their price objective on ACV Auctions from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Barrington Research cut ACV Auctions from an “outperform” rating to a “market perform” rating in a research note on Thursday. Jefferies Financial Group decreased their price target on ACV Auctions from $22.00 to $15.00 and set a “buy” rating for the company in a report on Friday, October 17th. Needham & Company LLC dropped their price objective on shares of ACV Auctions from $14.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Citigroup cut their price objective on shares of ACV Auctions from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

ACV Auctions Stock Performance

Shares of ACV Auctions stock traded up $0.30 during trading on Thursday, reaching $5.39. The company’s stock had a trading volume of 11,903,043 shares, compared to its average volume of 2,499,834. The company has a 50-day moving average price of $9.74 and a two-hundred day moving average price of $13.23. ACV Auctions has a fifty-two week low of $4.95 and a fifty-two week high of $23.46. The firm has a market cap of $926.97 million, a PE ratio of -10.99 and a beta of 1.63. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $199.56 million for the quarter, compared to the consensus estimate of $200.26 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. ACV Auctions’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the firm posted $0.04 EPS. ACV Auctions has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts forecast that ACV Auctions will post -0.07 EPS for the current year.

Hedge Funds Weigh In On ACV Auctions

Institutional investors and hedge funds have recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of ACV Auctions in the 1st quarter valued at about $35,000. CWM LLC boosted its holdings in ACV Auctions by 77.4% during the second quarter. CWM LLC now owns 4,642 shares of the company’s stock worth $75,000 after buying an additional 2,026 shares in the last quarter. Neo Ivy Capital Management acquired a new position in ACV Auctions during the second quarter worth about $87,000. Covestor Ltd increased its holdings in ACV Auctions by 39.9% in the third quarter. Covestor Ltd now owns 5,785 shares of the company’s stock valued at $57,000 after buying an additional 1,649 shares in the last quarter. Finally, AlphaQuest LLC lifted its position in shares of ACV Auctions by 2,640.6% during the 1st quarter. AlphaQuest LLC now owns 6,687 shares of the company’s stock valued at $94,000 after acquiring an additional 6,443 shares during the period. 88.55% of the stock is owned by institutional investors and hedge funds.

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.