ACV Auctions (ACVA) Set to Announce Earnings on Wednesday

ACV Auctions (NASDAQ:ACVA) is scheduled 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.Individual that wish to register for the company’s earnings conference call can do so using this link.

ACV Auctions (NASDAQ:ACVA) last announced its earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. The company 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 Trading Up 2.5 %

ACVA opened at $17.81 on Monday. ACV Auctions has a 52 week low of $12.84 and a 52 week 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 business has a fifty day simple moving average of $18.00 and a 200-day simple moving average of $15.68. The firm has a market cap of $2.92 billion, a P/E ratio of -38.72 and a beta of 1.56.

Analyst Ratings Changes

Several analysts have recently issued reports on ACVA shares. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Thursday, February 22nd. Northcoast Research raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Wednesday, January 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $19.00 price objective on shares of ACV Auctions in a research report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.21.

Insider Transactions at ACV Auctions

In related news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total value of $558,025.00. Following the completion of the sale, the chief financial officer now owns 314,151 shares in the company, valued at $5,393,972.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total transaction of $558,025.00. Following the completion of the transaction, the chief financial officer now directly owns 314,151 shares in the company, valued at approximately $5,393,972.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Vikas Mehta sold 200,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $16.48, for a total transaction of $3,296,000.00. Following the transaction, the chief operating officer now owns 319,036 shares of the company’s stock, valued at $5,257,713.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,507,708 shares of company stock worth $27,126,374. Company insiders own 13.67% of the company’s stock.

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.