ACV Auctions (ACVA) Scheduled to Post Earnings on Wednesday

ACV Auctions (NASDAQ:ACVA) will be releasing its earnings data after the market closes on Wednesday, May 8th. Analysts expect ACV Auctions to post 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.Persons that wish to listen to 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) 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 company 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 Stock Down 2.1 %

Shares of ACVA opened at $17.45 on Wednesday. ACV Auctions has a 12 month low of $12.84 and a 12 month high of $19.54. The firm’s 50 day moving average is $17.90 and its 200-day moving average is $15.62. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other ACV Auctions news, insider Craig Eric Anderson sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $18.00, for a total value of $90,000.00. Following the completion of the sale, the insider now directly owns 202,797 shares of the company’s stock, valued at approximately $3,650,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total transaction of $558,025.00. Following the sale, the chief financial officer now directly owns 314,151 shares in the company, valued at approximately $5,393,972.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Eric Anderson sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 202,797 shares in the company, valued at approximately $3,650,346. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,507,708 shares of company stock valued at $27,126,374. Corporate 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.