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Curious about ACV Auctions (ACVA) Q2 Performance? Explore Wall Street Estimates for Key Metrics

Zacks Equity Research
2 min read
In this article:

Wall Street analysts expect ACV Auctions Inc. (ACVA) to post quarterly earnings of $0.02 per share in its upcoming report, which indicates a year-over-year increase of 300%. Revenues are expected to be $156.33 million, up 25.9% from the year-ago quarter.

Over the last 30 days, there has been an upward revision of 2.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

With that in mind, let's delve into the average projections of some ACV Auctions metrics that are commonly tracked and projected by analysts on Wall Street.

The collective assessment of analysts points to an estimated 'Revenue- Customer assurance' of $17.34 million. The estimate points to a change of +16.7% from the year-ago quarter.

The consensus among analysts is that 'Revenue- Marketplace and service' will reach $139.74 million. The estimate suggests a change of +27.8% year over year.

Analysts forecast 'Marketplace Units' to reach 186,524. The estimate is in contrast to the year-ago figure of 153,148.

View all Key Company Metrics for ACV Auctions here>>>

Shares of ACV Auctions have demonstrated returns of -15.3% over the past month compared to the Zacks S&P 500 composite's -6.7% change. With a Zacks Rank #2 (Buy), ACVA is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

ACV Auctions Inc. (ACVA) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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