ACV Auctions Aktie News

Dealers nationwide can now utilize ACV's seamless and transparent solution for rapid vehicle delivery for their full inventory. Dealers nationwide can now utilize ACV's seamless and transparent solution for rapid vehicle delivery for their full inventory.

ACV Auctions Inc. (ACVA) Q4 2023 Earnings Call Transcript

ACV Auctions' actual EBITDA loss for the recent quarter was narrower than both its management guidance and the consensus estimate. 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.

Industry trends like improving dealer volumes are giving ACV a tailwind. The company expects to turn an adjusted profit this year.

After witnessing some of the hottest software stocks skyrocket to dizzying valuations over the past few years, many investors wonder if opportunities remain in this high-flying sector. With sales multiples stretching well into the double digits for companies like Snowflake (NYSE: SNOW ) and Datadog (NASDAQ: DDOG ), I believe the easy money has already been made.

ACV licenses AutoIMS in support of ACV's digital product offering, expanding its scope of services for commercial consignors. ACV licenses AutoIMS in support of ACV's digital product offering, expanding its scope of services for commercial consignors.

Gained Market Share and Delivered 21% Revenue Growth Adjusted EBITDA Ahead of Guidance

The stock market in 2024 is off to a promising start, especially for growth stocks with millionaire potential that have reached a larger scale. However, it's still difficult to predict where things may end up in the coming months.