ACV Auctions: Positive On EBITDA Beat And Above-Expectations Revenue Guidance (Rating Upgrade) [Seeking Alpha]
ACV Auctions Inc. - Class A (ACVA)
Company Research
Source: Seeking Alpha
ACVA expects its top line to expand by +28.5% to $617.5 million in 2024, which is +7% better than the sell side's consensus forecast. I change my rating for ACVA from a Hold to a Buy, after assessing its recent quarterly performance and its financial prospects. Looking for more investing ideas like this one? Get them exclusively at Asia Value & Moat Stocks. Learn More » Elevator Pitch I rate ACV Auctions Inc. NASDAQ: ACVA ) stock as a Buy. In my previous September 12, 2023, write-up , my focus was on ACVA's growing market share, the stock's valuations as compared to peers, and the change in consensus estimates for the company. I touch on ACV Auctions' Q4 2023 results and fiscal 2024 guidance in this latest article. ACV Auctions' actual Q4 2023 EBITDA loss was not as bad as what the market had anticipated, while the company's 2024 top line guidance was a positive surprise. Taking into account these factors, I have decided to revise my rating for ACVA from a Hold to a Buy.
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ACVA
News
- ACV to Report First Quarter 2024 Financial Results on May 8, 2024GlobeNewswire
- ACV Auctions Inc. (NASDAQ: ACVA) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $19.00 price target on the stock.MarketBeat
- ACV Transportation Expands Services to Vehicles Purchased Outside of the ACV Platform [Yahoo! Finance]Yahoo! Finance
- ACV Transportation Expands Services to Vehicles Purchased Outside of the ACV PlatformGlobeNewswire
- Does ACV Auctions (ACVA) Have the Potential to Create a Strong Competitive Moat? [Yahoo! Finance]Yahoo! Finance
ACVA
Earnings
- 2/21/24 - Miss
ACVA
Sec Filings
- 4/17/24 - Form 4
- 4/17/24 - Form ARS
- 4/17/24 - Form DEFA14A
- ACVA's page on the SEC website