ACV Auctions (ACVA) To Report Earnings Tomorrow: Here Is What To Expect
ACV Auctions beat analysts' revenue expectations by 2.4% last quarter, reporting revenues of $159.5 million, up 34.8% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts' expectations significantly and EBITDA guidance for next quarter missing analysts' expectations significantly. It reported 183,497 units sold, up 27.4% year on year.
Is ACV Auctions a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting ACV Auctions's revenue to grow 25.1% year on year to $182.3 million, improving from the 21.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.
ACV Auctions Total Revenue
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ACV Auctions has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 3.4% on average.
Looking at ACV Auctions's peers in the online marketplace segment, some have already reported their Q1 results, giving us a hint as to what we can expect. EverQuote delivered year-on-year revenue growth of 83%, beating analysts' expectations by 5.2%, and Etsy reported flat revenue, topping estimates by 1.4%. Etsy traded down 8% following the results.
Read our full analysis of EverQuote's results here and Etsy's results here.
There has been positive sentiment among investors in the online marketplace segment, with share prices up 17.5% on average over the last month. ACV Auctions is up 14.7% during the same time and is heading into earnings with an average analyst price target of $22.73 (compared to the current share price of $15.36).
Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
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