Auction Technology Group plc (LON:ATG) experienced a significant increase in its stock price, rising by 24.4% during trading on December 2, 2023. The shares reached a high of GBX 338.50 before closing at GBX 337.00. Approximately 3,239,603 shares changed hands, a slight decrease from the average trading volume of 3,257,105 shares.
Analysts from several financial research firms have recently adjusted their target prices for Auction Technology Group. Peel Hunt reduced its target from GBX 730 to GBX 460, while maintaining a “buy” rating. Berenberg Bank also lowered its target price from GBX 560 to GBX 460, issuing a “buy” rating. Meanwhile, JPMorgan Chase & Co. raised its price target from GBX 690 to GBX 695 and marked the stock as “overweight.” In contrast, the Royal Bank of Canada decreased its target from GBX 415 to GBX 315, giving it a “sector perform” rating.
Currently, four equity research analysts have assigned a “buy” rating to the stock, while one has issued a “hold” rating. According to data from MarketBeat.com, the consensus rating for Auction Technology Group is “Moderate Buy,” with a consensus price target of GBX 549.
About Auction Technology Group
Auction Technology Group is recognized as the operator of leading online marketplaces and auction services for curated auctions. The company connects bidders worldwide to over 3,800 trusted auction houses across two primary sectors: Industrial & Commercial (I&C) and Art & Antiques (A&A). Utilizing its proprietary auction platform technology, the Group powers eight online marketplaces and listing sites, hosting more than 70,000 live and timed auctions each year.
Established in 1971, Auction Technology Group has been instrumental in supporting the auction industry. The company operates from offices in the UK, the US, and Germany, reinforcing its commitment to facilitating seamless online auction experiences.
As the stock continues to attract attention from analysts and investors alike, the market will be keen to observe how these recent developments influence Auction Technology Group’s standing in the competitive auction sector.
