Needham & Company LLC Cuts ACV Auctions (NASDAQ:ACVA) Price Target to $9.00

ACV Auctions (NASDAQ:ACVA) had its price target cut by Needham & Company LLC from $14.00 to $9.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on ACVA. Barrington Research cut shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a research note on Thursday. Stephens decreased their price objective on ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Tuesday, August 12th. The Goldman Sachs Group lowered their target price 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. Citigroup cut their price target on ACV Auctions from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Finally, Bank of America reiterated an “underperform” rating and issued a $6.00 price objective (down from $16.50) on shares of ACV Auctions in a research report on Thursday. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.75.

ACV Auctions Stock Performance

Shares of NASDAQ:ACVA opened at $5.39 on Thursday. The business has a fifty day moving average of $9.61 and a 200-day moving average of $13.17. 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 firm 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 issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The business 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%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. ACV Auctions has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts predict that ACV Auctions will post -0.07 EPS for the current fiscal year.

Institutional Trading of ACV Auctions

Institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of ACV Auctions by 2.1% in the 2nd quarter. Brighton Jones LLC now owns 40,703 shares of the company’s stock valued at $660,000 after acquiring an additional 823 shares during the period. Verdence Capital Advisors LLC increased its stake in ACV Auctions by 6.4% in the second quarter. Verdence Capital Advisors LLC now owns 15,845 shares of the company’s stock valued at $257,000 after purchasing an additional 960 shares in the last quarter. SG Americas Securities LLC raised its holdings in ACV Auctions by 5.7% in the second quarter. SG Americas Securities LLC now owns 27,302 shares of the company’s stock worth $443,000 after purchasing an additional 1,467 shares during the period. Covestor Ltd boosted its position in shares of ACV Auctions by 39.9% during the third quarter. Covestor Ltd now owns 5,785 shares of the company’s stock worth $57,000 after purchasing an additional 1,649 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of ACV Auctions by 13.8% in the 2nd quarter. Bank of Montreal Can now owns 14,384 shares of the company’s stock valued at $233,000 after buying an additional 1,746 shares during the period. 88.55% of the stock is 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.