As The Stock Falls By -62.10% Year-To-Date, ACV Auctions Inc. (NASDAQ: ACVA)’S Stock Continues To Progress In 2022 – Marketing Sentinel
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As The Stock Falls By -62.10% Year-To-Date, ACV Auctions Inc. (NASDAQ: ACVA)’S Stock Continues To Progress In 2022

During the last session, ACV Auctions Inc. (NASDAQ:ACVA)’s traded shares were 1.36 million. At the end of the trading day, the stock’s price was $7.14, reflecting an intraday gain of 0.14% or $0.01. The 52-week high for the ACVA share is $25.97, that puts it down -263.73 from that peak though still a striking 6.58% gain since the share price plummeted to a 52-week low of $6.67. The company’s market capitalization is $1.06B, and the average trade volume was 1.39 million shares over the past three months.

ACV Auctions Inc. (ACVA) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.70. ACVA has a Sell rating from 0 analyst(s) out of 16 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 14 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.15.

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ACV Auctions Inc. (NASDAQ:ACVA) trade information

ACV Auctions Inc. (ACVA) registered a 0.14% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.14% in intraday trading to $7.14 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is 3.03%, and it has moved by -12.07% in 30 days. Based on these gigs, the overall price performance for the year is -70.46%.

The consensus price target of analysts on Wall Street is $18.64, which implies an increase of 61.7% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $14.00 and $28.00 respectively. As a result, ACVA is trading at a discount of -292.16% off the target high and -96.08% off the low.

ACV Auctions Inc. (ACVA) estimates and forecasts

Statistics show that ACV Auctions Inc. has underperformed its competitors in share price, compared to the industry in which it operates. ACV Auctions Inc. (ACVA) shares have gone down -59.06% during the last six months, with a year-to-date growth rate less than the industry average at -14.52% against -5.80. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -150.00% this quarter and then jump 12.50% in the quarter after that. In the rating firms’ projections, revenue will increase 28.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $112.13 million as predicted by 13 analyst(s). Meanwhile, a consensus of 13 analyst(s) estimates revenue growth to $119.79 million by the end of Sep 2022.

While earnings are projected to return -134.40% in 2022, the next five years will return 0.80% per annum.

ACVA Dividends

ACV Auctions Inc. is due to release its next quarterly earnings on November 10. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

ACV Auctions Inc. (NASDAQ:ACVA)’s Major holders

ACV Auctions Inc. insiders own 1.42% of total outstanding shares while institutional holders control 90.80%, with the float percentage being 92.10%. New York State Common Retirement Fund is the largest shareholder of the company, while 171 institutions own stock in it. As of Mar 30, 2022, the company held over 11.49 million shares (or 10.21% of all shares), a total value of $170.18 million in shares.

The next largest institutional holding, with 9.65 million shares, is of ArrowMark Colorado Holdings LLC’s that is approximately 8.57% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $181.86 million.

Also, the Mutual Funds coming in first place with the largest holdings of ACV Auctions Inc. (ACVA) shares are Fidelity Blue Chip Growth Fund and Vanguard Explorer Fund, Inc. Data provided on Feb 27, 2022 indicates that Fidelity Blue Chip Growth Fund owns about 3.27 million shares. This amounts to just over 2.91 percent of the company’s overall shares, with a $43.16 million market value. The same data shows that the other fund manager holds slightly less at 3.12 million, or about 2.77% of the stock, which is worth about $41.31 million.

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