ACV Auctions (NYSE:ACVA) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS
by Mitch Edgeman · The Markets DailyACV Auctions (NYSE:ACVA – Get Free Report) issued its earnings results on Monday. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02, Zacks reports. ACV Auctions had a negative net margin of 9.89% and a negative return on equity of 7.95%.
ACV Auctions Price Performance
ACV Auctions stock traded down $1.03 during trading hours on Monday, hitting $5.63. 7,687,893 shares of the stock were exchanged, compared to its average volume of 2,858,122. The business’s 50-day moving average is $7.95 and its two-hundred day moving average is $8.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.62 and a current ratio of 1.62. ACV Auctions has a 12 month low of $4.95 and a 12 month high of $17.79. The stock has a market capitalization of $969.32 million, a P/E ratio of -13.09 and a beta of 1.63.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the stock. Barclays raised shares of ACV Auctions to a “hold” rating in a report on Tuesday, November 11th. Wall Street Zen raised ACV Auctions from a “sell” rating to a “hold” rating in a research note on Sunday, February 1st. CJS Securities raised ACV Auctions to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research downgraded shares of ACV Auctions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Jefferies Financial Group downgraded shares of ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 target price for the company. in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.00.
Check Out Our Latest Stock Report on ACV Auctions
ACV Auctions Company Profile
ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.
In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.