The Goldman Sachs Group Cuts ACV Auctions (NASDAQ:ACVA) Price Target to $13.00

ACV Auctions (NASDAQ:ACVA) had its price target reduced by The Goldman Sachs Group from $21.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 141.37% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Needham & Company LLC dropped their price target on shares of ACV Auctions from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday. Barrington Research downgraded shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a research report on Thursday. JMP Securities cut their target price on shares of ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 12th. JPMorgan Chase & Co. decreased their price target on ACV Auctions from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Stephens cut their price objective on ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Tuesday, August 12th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.75.

ACV Auctions Stock Up 5.8%

Shares of NASDAQ:ACVA traded up $0.30 during midday trading on Friday, hitting $5.39. 11,902,962 shares of the company’s stock traded hands, compared to its average volume of 2,499,766. The firm’s fifty day moving average price is $9.74 and its two-hundred day moving average price is $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. ACV Auctions has a twelve month low of $4.95 and a twelve month high of $23.46. The company has a market cap of $926.97 million, a PE ratio of -10.99 and a beta of 1.63.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of ACV Auctions in the 1st quarter valued at $35,000. Covestor Ltd lifted its stake in ACV Auctions by 39.9% during 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. CWM LLC lifted its stake in ACV Auctions by 77.4% during the second 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 acquired a new position in shares of ACV Auctions in the second quarter worth about $87,000. Finally, AlphaQuest LLC increased its position in shares of ACV Auctions by 2,640.6% in the first 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. Institutional investors and hedge funds own 88.55% of the company’s stock.

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.