ACV Auctions (NASDAQ:ACVA) Receives Underperform Rating from Bank of America

Bank of America reissued their underperform rating on shares of ACV Auctions (NASDAQ:ACVA) in a research report report published on Thursday, MarketBeat reports. The brokerage currently has a $6.00 price objective on the stock, down from their prior price objective of $16.50.

Several other brokerages also recently commented on ACVA. The Goldman Sachs Group decreased their price objective on shares of ACV Auctions from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Jefferies Financial Group decreased their price target on ACV Auctions from $22.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Stephens dropped their price objective on ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 12th. JPMorgan Chase & Co. decreased their target price on ACV Auctions from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, July 17th. Finally, Needham & Company LLC lowered their price target on ACV Auctions from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average 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 on Thursday, hitting $5.39. 11,903,043 shares of the company’s stock were exchanged, compared to its average volume of 2,499,834. ACV Auctions has a 1 year low of $4.95 and a 1 year high of $23.46. The company has a 50-day simple moving average of $9.74 and a 200-day simple moving average of $13.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market capitalization of $926.97 million, a PE ratio of -10.99 and a beta of 1.63.

ACV Auctions (NASDAQ:ACVA) last announced its earnings results on Wednesday, November 5th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $199.56 million for the quarter, compared to analysts’ expectations of $200.26 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%.ACV Auctions’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $0.04 EPS. ACV Auctions has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities analysts anticipate that ACV Auctions will post -0.07 EPS for the current year.

Institutional Trading of ACV Auctions

Large investors have recently made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in ACV Auctions during the first quarter valued at approximately $35,000. Covestor Ltd increased its stake in ACV Auctions by 39.9% in the 3rd quarter. Covestor Ltd now owns 5,785 shares of the company’s stock worth $57,000 after buying an additional 1,649 shares during the period. CWM LLC lifted its holdings in ACV Auctions by 77.4% during the 2nd quarter. CWM LLC now owns 4,642 shares of the company’s stock valued at $75,000 after buying an additional 2,026 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in ACV Auctions in the 2nd quarter valued at about $87,000. Finally, AlphaQuest LLC grew its stake in ACV Auctions by 2,640.6% in the 1st quarter. AlphaQuest LLC now owns 6,687 shares of the company’s stock worth $94,000 after acquiring an additional 6,443 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors.

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.