ACV Auctions (ACVA) to Release Earnings on Wednesday

ACV Auctions (NASDAQ:ACVA - Get Free Report) is scheduled to announce its 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.Investors interested in listening to the company's conference call can do so using this link.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last released 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. The business had revenue of $118.38 million during the quarter, compared to analyst estimates of $117.62 million. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. 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 Performance

Shares of ACV Auctions stock traded down $0.54 during trading on Wednesday, hitting $16.91. 780,289 shares of the stock were exchanged, compared to its average volume of 1,165,005. The stock's fifty day moving average is $17.90 and its 200 day moving average is $15.62. The stock has a market cap of $2.77 billion, a PE ratio of -36.76 and a beta of 1.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. ACV Auctions has a 12 month low of $12.84 and a 12 month high of $19.54.

Analyst Ratings Changes

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

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, Director Brian Hirsch sold 38,763 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $18.24, for a total value of $707,037.12. Following the completion of the sale, the director now directly owns 378,390 shares of the company's stock, valued at approximately $6,901,833.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ACV Auctions news, Director Brian Hirsch sold 38,763 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $18.24, for a total transaction of $707,037.12. Following the sale, the director now owns 378,390 shares in the company, valued at approximately $6,901,833.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Eric Anderson sold 5,000 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $18.00, for a total value of $90,000.00. Following the sale, the insider now 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 three months, insiders sold 1,507,708 shares of company stock valued at $27,126,374. 13.67% 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.