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

ACV Auctions (NASDAQ:ACVA - Get Free Report) is scheduled to be releasing its earnings data after the market closes on Thursday, November 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 Q3 2024 guidance at EPS.Parties interested in participating in the company's conference call can do so using this link.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. The business had revenue of $160.62 million during the quarter, compared to the consensus estimate of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. 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 2.4 %

NASDAQ ACVA traded down $0.42 during trading on Thursday, hitting $17.29. The stock had a trading volume of 1,006,531 shares, compared to its average volume of 1,193,413. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of -36.02 and a beta of 1.56. The stock has a 50 day simple moving average of $19.09 and a 200 day simple moving average of $18.27. ACV Auctions has a one year low of $12.84 and a one year high of $21.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the transaction, the vice president now owns 62,956 shares of the company's stock, valued at approximately $1,322,076. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Craig Eric Anderson sold 7,500 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $150,000.00. Following the completion of the sale, the insider now owns 328,167 shares of the company's stock, valued at $6,563,340. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew Peer sold 1,795 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $37,695.00. Following the sale, the vice president now directly owns 62,956 shares of the company's stock, valued at $1,322,076. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 741,926 shares of company stock valued at $14,285,765. Corporate insiders own 8.50% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ACVA. Barrington Research reissued an "outperform" rating and set a $23.00 price objective on shares of ACV Auctions in a report on Friday, August 16th. Raymond James began coverage on shares of ACV Auctions in a report on Friday, September 27th. They set a "market perform" rating and a $22.00 price objective on the stock. JMP Securities lifted their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the company a "market outperform" rating in a report on Tuesday, September 17th. Finally, Jefferies Financial Group lifted their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

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.