Goldman Sachs Maintains ACV Auctions Buy Recommendation

June 7, 2023

Fintel reports that on June 5, 2023, Goldman Sachs maintained coverage of ACV Auctions Inc – (NASDAQ:ACVA) with a Buy recommendation.

Analyst Price Forecast Suggests 2.34% Upside

As of June 2, 2023, the average one-year price target for ACV Auctions Inc – is 18.12. The forecasts range from a low of 14.14 to a high of $21.00. The average price target represents an increase of 2.34% from its latest reported closing price of 17.71.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for ACV Auctions Inc – is 479MM, an increase of 9.43%. The projected annual non-GAAP EPS is -0.49.

What is the Fund Sentiment?

There are 345 funds or institutions reporting positions in ACV Auctions Inc -. This is an increase of 12 owner(s) or 3.60% in the last quarter. Average portfolio weight of all funds dedicated to ACVA is 0.31%, an increase of 57.27%. Total shares owned by institutions increased in the last three months by 3.22% to 140,477K shares. The put/call ratio of ACVA is 0.53, indicating a bullish outlook.

What are Other Shareholders Doing?

ArrowMark Colorado Holdings holds 16,401K shares representing 10.27% ownership of the company. In it’s prior filing, the firm reported owning 18,140K shares, representing a decrease of 10.60%. The firm increased its portfolio allocation in ACVA by 35.34% over the last quarter.

Atreides Management holds 10,260K shares representing 6.42% ownership of the company. In it’s prior filing, the firm reported owning 10,172K shares, representing an increase of 0.86%. The firm increased its portfolio allocation in ACVA by 23.20% over the last quarter.

VEXPX – VANGUARD EXPLORER FUND Investor Shares holds 5,987K shares representing 3.75% ownership of the company. In it’s prior filing, the firm reported owning 4,812K shares, representing an increase of 19.61%. The firm increased its portfolio allocation in ACVA by 25.57% over the last quarter.

Candlestick Capital Management holds 4,700K shares representing 2.94% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Jpmorgan Chase holds 4,314K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 4,100K shares, representing an increase of 4.96%. The firm increased its portfolio allocation in ACVA by 52.88% over the last quarter.

ACV Auctions Background Information
(This description is provided by the company.)

ACV leverages data and technology to power its digital marketplace and data services, enabling its dealers and commercial partners to buy, sell, and value vehicles with confidence and efficiency. Its digital marketplace offerings include its core auction offering and value-added services, ACV Transportation, ACV Capital, and its Go Green assurance. Its data services provide insights into the condition and value of used vehicles for transactions both on and off its marketplace. Its core data and technology platform includes inspection, vehicle intelligence, marketplace enablement, and operations automation.

Key filings for this company:

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

This article originally appeared on Fintel

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