ACV Auctions (NYSE:ACVA) Shares Gap Up - Time to Buy?
ACV Auctions Inc. (NYSE:ACVA) shares rose from $5.49 to $6.07 with a trading volume of 1,067,537 shares. Analysts have mixed ratings: Weiss Ratings suggests a 'sell', Barclays and Barrington Research rate it as 'hold', while Zacks Research upgraded it to 'strong-buy'. The stock has a market cap of $1.05 billion and a P/E ratio of -14.14. Despite a negative net margin and return on equity, the company reported $199.56 million in revenue for the last quarter.
ACV Auctions Inc. (NYSE:ACVA - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $5.49, but opened at $5.90. ACV Auctions shares last traded at $6.07, with a volume of 1,067,537 shares changing hands.
Analysts Set New Price Targets
Several analysts have recently commented on ACVA shares. Weiss Ratings restated a "sell (e+)" rating on shares of ACV Auctions in a report on Tuesday, October 14th. Barclays raised shares of ACV Auctions to a "hold" rating in a report on Tuesday. Barrington Research lowered ACV Auctions from an "outperform" rating to a "hold" rating in a research note on Thursday, November 6th. Wall Street Zen lowered shares of ACV Auctions from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Finally, Zacks Research upgraded shares of ACV Auctions from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold".
Check Out Our Latest Stock Analysis on ACV Auctions
ACV Auctions Stock Up 10.7%
The firm has a market cap of $1.05 billion, a P/E ratio of -14.14 and a beta of 1.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a 50-day moving average of $9.26.
ACV Auctions (NYSE:ACVA - Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.10). ACV Auctions had a negative net margin of 9.89% and a negative return on equity of 7.95%. The firm had revenue of $199.56 million for the quarter.
About ACV Auctions
(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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