ACV Auctions (NYSE:ACVA) Shares Gap Up – Still a Buy?

by · The Markets Daily

Shares of ACV Auctions Inc. (NYSE:ACVA – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $7.72, but opened at $8.19. ACV Auctions shares last traded at $8.00, with a volume of 271,519 shares.

Analyst Upgrades and Downgrades

ACVA has been the subject of several research reports. Barrington Research cut shares of ACV Auctions from an “outperform” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a report on Monday. CJS Securities upgraded ACV Auctions to a “strong-buy” rating in a report on Thursday, December 11th. Jefferies Financial Group cut ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 target price for the company. in a report on Thursday, December 11th. Finally, Zacks Research lowered ACV Auctions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ACV Auctions has a consensus rating of “Hold” and a consensus target price of $9.00.

Check Out Our Latest Research Report on ACVA

ACV Auctions Stock Up 3.1%

The firm has a market cap of $1.37 billion, a PE ratio of -18.51 and a beta of 1.64. The firm’s 50 day moving average is $7.88. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.51.

ACV Auctions (NYSE:ACVA – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.10). The business had revenue of $199.56 million during the quarter. ACV Auctions had a negative return on equity of 7.95% and a negative net margin of 9.89%.

ACV Auctions Company Profile

(Get Free Report)

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.

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