Goldman Sachs analyst Eric Sheridan maintained a Buy rating on ACV Auctions (ACVA – Research Report) on May 12 and set a price target of $20.00. The company’s shares closed last Friday at $8.94, close to its 52-week low of $7.52.
According to TipRanks.com, Sheridan is a top 100 analyst with an average return of 18.7% and a 65.7% success rate. Sheridan covers the Technology sector, focusing on stocks such as Spotify Technology SA, IAC/InteractiveCorp., and Fiverr International.
Currently, the analyst consensus on ACV Auctions is a Strong Buy with an average price target of $20.10, implying a 132.9% upside from current levels. In a report issued on May 5, J.P. Morgan also maintained a Buy rating on the stock with a $17.00 price target.
See the top stocks recommended by analysts >>
Based on ACV Auctions’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $100 million and GAAP net loss of $26.31 million. In comparison, last year the company earned revenue of $53.76 million and had a GAAP net loss of $12.26 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
ACV Auctions Inc is a mobile platform for wholesale car auctions. It provides a digital marketplace for wholesale vehicle transactions and data services that offers transparent and accurate vehicle information for customers.
Read More on ACVA:
- Goldman Sachs Thinks Mercadolibre’s Stock is Going to Recover
- Bezos Pokes POTUS for Tweet on Taxing Rich Corporations
- Berenberg Bank Thinks Ocular Therapeutix’s Stock is Going to Recover
- Berenberg Bank Reaffirms Their Buy Rating on Kornit Digital (KRNT)
- Continental Aktiengesellschaft (CTTAF) Receives a Hold from J.P. Morgan
