ACV Auctions (ACVA) Scheduled to Post Earnings on Wednesday

ACV Auctions (NASDAQ:ACVA) will post its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.01 per share for the quarter. ACV Auctions has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. The business had revenue of $118.38 million for the quarter, compared to analyst estimates of $117.62 million. On average, analysts expect ACV Auctions to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

ACV Auctions Price Performance

Shares of ACVA stock opened at $18.10 on Tuesday. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -39.35 and a beta of 1.56. ACV Auctions has a 12-month low of $12.84 and a 12-month high of $19.54. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $18.00 and a 200-day moving average of $15.68.

Insiders Place Their Bets

In other ACV Auctions news, insider Craig Eric Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $18.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now directly owns 202,797 shares in the company, valued at $3,650,346. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ACV Auctions news, insider Craig Eric Anderson sold 5,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $18.00, for a total transaction of $90,000.00. Following the transaction, the insider now owns 202,797 shares in the company, valued at approximately $3,650,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Chamoun sold 120,062 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $19.14, for a total transaction of $2,297,986.68. Following the completion of the sale, the chief executive officer now directly owns 597,921 shares of the company’s stock, valued at approximately $11,444,207.94. The disclosure for this sale can be found here. Insiders sold a total of 1,475,208 shares of company stock valued at $26,669,099 over the last ninety days. 13.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Thursday, February 22nd. Northcoast Research upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, January 10th. Barrington Research restated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a report on Monday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $19.00 price target on shares of ACV Auctions in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.21.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company's marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green's seller assurance service for against claims related to defects in the vehicle.