ACV Auctions (NYSE:ACVA) Stock Price Expected to Rise, Barclays Analyst Says

ACV Auctions (NYSE:ACVA) had its price objective boosted by investment analysts at Barclays from $7.00 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 5.47% from the company’s current price.

ACVA has been the topic of a number of other reports. Barrington Research lowered shares of ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 target price on the stock. in a research note on Monday, June 1st. Weiss Ratings restated a “sell (e+)” rating on shares of ACV Auctions in a research report on Wednesday, June 24th. Finally, Stephens raised ACV Auctions to a “hold” rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, ACV Auctions presently has an average rating of “Hold” and an average price target of $10.23.

ACV Auctions Stock Performance

ACVA opened at $7.58 on Wednesday. The firm has a market capitalization of $1.32 billion, a PE ratio of -21.67 and a beta of 1.82. ACV Auctions has a twelve month low of $4.07 and a twelve month high of $15.22. The firm’s 50-day moving average price is $6.60 and its 200 day moving average price is $6.26. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46.

Institutional Investors Weigh In On ACV Auctions

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atreides Management LP boosted its holdings in ACV Auctions by 125.2% in the 4th quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock valued at $99,543,000 after purchasing an additional 6,901,010 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of ACV Auctions by 301.0% during the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock worth $118,331,000 after buying an additional 5,475,874 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of ACV Auctions by 14.1% during the 3rd quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company’s stock valued at $62,753,000 after buying an additional 784,411 shares during the period. Jennison Associates LLC raised its position in shares of ACV Auctions by 1.5% during the 4th quarter. Jennison Associates LLC now owns 5,766,578 shares of the company’s stock valued at $46,248,000 after buying an additional 87,959 shares during the period. Finally, State Street Corp raised its position in shares of ACV Auctions by 3.2% during the 4th quarter. State Street Corp now owns 3,853,014 shares of the company’s stock valued at $30,901,000 after buying an additional 119,079 shares during the period. 88.55% of the stock is currently owned by institutional investors and hedge funds.

About ACV Auctions

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.