ACV Auctions (ACVA) Expected to Announce Earnings on Wednesday

ACV Auctions (NASDAQ:ACVA) is expected to be releasing its earnings data after the market closes on Wednesday, February 19th. Analysts expect ACV Auctions to post earnings of ($0.15) per share and revenue of $156.77 million for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

ACV Auctions Stock Performance

Shares of NASDAQ ACVA opened at $21.59 on Tuesday. The business’s 50 day moving average is $21.29 and its two-hundred day moving average is $20.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. ACV Auctions has a 1-year low of $13.66 and a 1-year high of $23.46. The stock has a market capitalization of $3.62 billion, a P/E ratio of -45.94 and a beta of 1.69.

Analyst Upgrades and Downgrades

ACVA has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Citigroup boosted their target price on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. B. Riley boosted their target price on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Barrington Research restated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Finally, Piper Sandler boosted their target price on ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.65.

Insider Activity at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total transaction of $304,050.00. Following the sale, the insider now directly owns 311,354 shares of the company’s stock, valued at approximately $6,311,145.58. This trade represents a 4.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Zerella sold 32,500 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $22.41, for a total value of $728,325.00. Following the sale, the chief financial officer now directly owns 490,482 shares in the company, valued at $10,991,701.62. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,162 shares of company stock valued at $2,663,776 in the last ninety days. Company insiders own 8.50% 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.