ACV Auctions Inc reports results for the quarter ended June 30 - Earnings Summary

• ACV Auctions Inc ACVA.N reported a quarterly adjusted loss of 4 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -10 cents. The mean expectation of thirteen analysts for the quarter was for a loss of 6 cents per share. Wall Street expected results to range from -8 cents to -4 cents per share.

• Revenue rose 20.6% to $193.70 million from a year ago; analysts expected $196.11 million.

• ACV Auctions Inc's reported EPS for the quarter was a loss of 4 cents​.

• The company reported a quarterly loss of $7.3 million.

• ACV Auctions Inc shares had fallen by 16.0% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 8.2% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the online services peer group is also "buy"

• Wall Street's median 12-month price target for ACV Auctions Inc is $23.50, about 43.2% above its last closing price of $13.35

This summary was machine generated from LSEG data August 11 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)