ACV Auctions (ACVA) Projected to Post Quarterly Earnings on Wednesday

ACV Auctions (NASDAQ:ACVA) will likely be issuing its quarterly earnings data before the market opens on Wednesday, February 19th. Analysts expect the company to announce earnings of ($0.15) per share and revenue of $155.75 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

ACV Auctions Stock Performance

Shares of ACVA opened at $21.42 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of -45.57 and a beta of 1.69. ACV Auctions has a 52-week low of $13.52 and a 52-week high of $23.46. The stock’s 50-day simple moving average is $21.35 and its 200 day simple moving average is $19.96.

Insider Buying and Selling

In other news, insider Michael Waterman sold 15,000 shares of ACV Auctions stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total transaction of $304,050.00. Following the sale, the insider now owns 311,354 shares of the company’s stock, valued at approximately $6,311,145.58. The trade was a 4.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $728,325.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at approximately $10,991,701.62. The trade was 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 over the last three months. 8.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stephens raised ACV Auctions to a “hold” rating in a research note on Saturday, February 1st. Jefferies Financial Group boosted their price objective on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Piper Sandler raised their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Citigroup lifted their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target (up previously from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. Three 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.65.

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.