ACV Auctions (ACVA) Set to Announce Quarterly Earnings on Wednesday

ACV Auctions (NASDAQ:ACVA) is set to issue its quarterly earnings data 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.Parties that wish to register for the company’s conference call can do so using this link.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.12) EPS 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 analysts’ expectations 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 Trading Up 1.6 %

Shares of NASDAQ ACVA opened at $18.10 on Tuesday. The stock has a market capitalization of $2.97 billion, a P/E ratio of -39.35 and a beta of 1.56. The stock’s 50 day moving average price is $18.00 and its two-hundred day moving average price is $15.68. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. ACV Auctions has a 52-week low of $12.84 and a 52-week high of $19.54.

Insider Transactions at ACV Auctions

In related news, COO Vikas Mehta sold 200,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $16.48, for a total value of $3,296,000.00. Following the completion of the transaction, the chief operating officer now owns 319,036 shares in the company, valued at approximately $5,257,713.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Vikas Mehta sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $16.48, for a total value of $3,296,000.00. Following the completion of the transaction, the chief operating officer now owns 319,036 shares of the company’s stock, valued at approximately $5,257,713.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William Zerella sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $18.72, for a total transaction of $936,000.00. Following the sale, the chief financial officer now directly owns 323,286 shares in the company, valued at $6,051,913.92. The disclosure for this sale can be found here. Insiders have sold 1,475,208 shares of company stock valued at $26,669,099 over the last three months. Company insiders own 13.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on ACVA shares. Northcoast Research upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a research note on Thursday, February 22nd. Barrington Research reiterated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Monday. Finally, JMP Securities reissued a “market outperform” rating and set a $19.00 target price on shares of ACV Auctions in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, ACV Auctions currently has an average 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.