ACV Auctions (ACVA) Set to Announce Earnings on Wednesday

ACV Auctions (NASDAQ:ACVA) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, August 7th. Analysts expect ACV Auctions to post earnings of $0.02 per share for the quarter. ACV Auctions has set its FY 2024 guidance at EPS and its Q2 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 announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $145.69 million for the quarter, compared to the consensus estimate of $144.14 million. ACV Auctions had a negative return on equity of 13.50% and a negative net margin of 15.28%. 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 Down 0.5 %

NASDAQ ACVA opened at $16.94 on Wednesday. The company has a fifty day moving average price of $17.98 and a 200-day moving average price of $17.17. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. ACV Auctions has a 1 year low of $12.84 and a 1 year high of $19.63.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ACVA. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of ACV Auctions in a research note on Wednesday, July 10th. JPMorgan Chase & Co. upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective for the company in a report on Monday, June 10th. Barrington Research reissued an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Monday, May 13th. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a research note on Monday, June 3rd. Finally, Piper Sandler increased their price target on ACV Auctions from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, ACV Auctions currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.88.

Insider Buying and Selling

In other ACV Auctions news, insider Michael Waterman sold 26,336 shares of ACV Auctions stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $17.51, for a total transaction of $461,143.36. Following the transaction, the insider now directly owns 366,710 shares of the company’s stock, valued at $6,421,092.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michael Waterman sold 26,336 shares of ACV Auctions stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $17.51, for a total value of $461,143.36. Following the transaction, the insider now owns 366,710 shares in the company, valued at $6,421,092.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Craig Eric Anderson sold 7,500 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $17.81, for a total value of $133,575.00. Following the sale, the insider now owns 328,167 shares of the company’s stock, valued at $5,844,654.27. The disclosure for this sale can be found here. Insiders sold 679,369 shares of company stock worth $12,178,292 in the last quarter. 8.50% of the stock is owned by insiders.

About ACV Auctions

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.