ACV Auctions (ACVA) to Release Earnings on Wednesday

ACV Auctions (NASDAQ:ACVAGet Rating) will be issuing its quarterly earnings data after the market closes on Wednesday, May 11th. Analysts expect the company to announce earnings of ($0.19) per share for the quarter. ACV Auctions has set its Q1 2022 guidance at EPS and its FY 2022 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

ACV Auctions (NASDAQ:ACVAGet Rating) last announced its quarterly earnings results on Wednesday, February 16th. The company reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. ACV Auctions had a negative net margin of 21.89% and a negative return on equity of 13.47%. The firm had revenue of $100.20 million during the quarter, compared to the consensus estimate of $86.27 million. ACV Auctions’s revenue was up 86.2% on a year-over-year basis. On average, analysts expect ACV Auctions to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Shares of NASDAQ:ACVA opened at $12.33 on Wednesday. The firm has a fifty day moving average price of $13.86 and a two-hundred day moving average price of $16.27. ACV Auctions has a one year low of $10.30 and a one year high of $34.99. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -13.68 and a beta of 1.16.

A number of equities research analysts have weighed in on ACVA shares. JMP Securities restated a “buy” rating and set a $32.00 price target on shares of ACV Auctions in a research report on Wednesday, April 6th. The Goldman Sachs Group initiated coverage on ACV Auctions in a research report on Friday, January 7th. They issued a “buy” rating and a $26.00 target price for the company. Canaccord Genuity Group reduced their price target on shares of ACV Auctions from $32.00 to $25.00 in a research report on Thursday, February 17th. Piper Sandler lowered their price objective on shares of ACV Auctions from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, March 30th. Finally, Zacks Investment Research raised shares of ACV Auctions from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $26.15.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley bought a new stake in shares of ACV Auctions in the first quarter valued at about $40,000. Royal Bank of Canada boosted its holdings in ACV Auctions by 443.3% during the second quarter. Royal Bank of Canada now owns 1,630 shares of the company’s stock worth $42,000 after buying an additional 1,330 shares in the last quarter. Legal & General Group Plc purchased a new stake in ACV Auctions during the fourth quarter worth $194,000. Bank of New York Mellon Corp boosted its holdings in ACV Auctions by 96.7% during the third quarter. Bank of New York Mellon Corp now owns 24,408 shares of the company’s stock worth $436,000 after buying an additional 11,997 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in ACV Auctions by 101.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 35,907 shares of the company’s stock worth $677,000 after buying an additional 18,052 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

About ACV Auctions (Get Rating)

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.

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