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ACV Auctions Inc. (NASDAQ: ACVA) Up 52.57% From 52-Week Low; YTD Jumps 56.64% – Here’s What To Do Now

ACV Auctions Inc. (NASDAQ:ACVA)’s traded shares stood at 1.08 million during the last session. At the close of trading, the stock’s price was $12.86, to imply an increase of 1.42% or $0.18 in intraday trading. The ACVA share’s 52-week high remains $15.70, putting it -22.08% down since that peak but still an impressive 52.57% since price per share fell to its 52-week low of $6.10. The company has a valuation of $2.03B, with an average of 0.89 million shares in intraday trading volume over the past 10 days and average of 1.10 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for ACV Auctions Inc. (ACVA), translating to a mean rating of 1.70. Of 15 analyst(s) looking at the stock, 0 analyst(s) give ACVA a Sell rating. 0 of those analysts rate the stock as Overweight while 3 advise Hold as 12 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.16.

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ACV Auctions Inc. (NASDAQ:ACVA) trade information

After registering a 1.42% upside in the last session, ACV Auctions Inc. (ACVA) has traded red over the past five days. The stock hit a weekly high of 13.15 this Friday, 03/17/23, jumping 1.42% in its intraday price action. The 5-day price performance for the stock is 2.39%, and 13.60% over 30 days. With these gigs, the year-to-date price performance is 56.64%. Short interest in ACV Auctions Inc. (NASDAQ:ACVA) saw shorts transact 9.48 million shares and set a 6.57 days time to cover.

Analysts on Wall Street suggest a consensus price target of $14.42, implying an increase of 10.82% to the stock’s current value. The extremes give us $11.00 and $17.00 for target low and target high price respectively. As such, ACVA has been trading -32.19% off suggested target high and 14.46% from its likely low.

ACV Auctions Inc. (ACVA) estimates and forecasts

Looking at statistics comparing ACV Auctions Inc. share performance against respective industry, we note that the company has outperformed competitors. ACV Auctions Inc. (ACVA) shares are 39.78% up over the last 6 months, with its year-to-date growth rate higher than industry average at 52.54% against 14.90%. Revenue is forecast to grow 15.80% this quarter before jumping 12.50% for the next one. The rating firms project that company’s revenue will grow 10.10% compared to the previous financial year.

Revenue forecast for the current quarter as set by 13 analysts is $108.82 million. Meanwhile, for the quarter ending Jun 2023, a total of 13 analyst(s) estimate revenue growth to $118.91 million.Earnings reports from the last fiscal year show that sales brought in $103.06 million and $115.07 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 5.60% before jumping 3.30% in the following quarter.

ACVA Dividends

ACV Auctions Inc. has its next earnings report out between May 09 and May 15. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. ACV Auctions Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

ACV Auctions Inc. insiders hold 1.22% of total outstanding shares, with institutional holders owning 93.27% of the shares at 94.42% float percentage. In total, 93.27% institutions holds shares in the company, led by ArrowMark Colorado Holdings LLC. As of Dec 30, 2022, the company held over 18.14 million shares (or 14.36% of shares), all amounting to roughly $233.28 million.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 10.86 million shares, or about 8.59% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $139.62 million.

We also have Vanguard Explorer Fund, Inc. and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the ACV Auctions Inc. (ACVA) shares. Going by data provided on Oct 30, 2022, Vanguard Explorer Fund, Inc. holds roughly 4.81 million shares. This is just over 4.09% of the total shares, with a market valuation of $61.89 million. Data from the same date shows that the other fund manager holds a little less at 3.4 million, or 2.89% of the shares, all valued at about 43.74 million.

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