Acv Auctions Inc Cl A Down 0.56% To $14.14 After Earnings Beat

Acv Auctions Inc Cl A (ACVA) said after close Monday that it lost $0.11 per share in quarter three 2023.

On the revenue line, the company reported $119 million, beating estimates by $774 thousand.

In the same quarter a year ago, the company lost $0.15 per share on revenue of $105.4 million.

The stock is down 0.56% to $14.14 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Acv Auctions Inc Cl A a Bullish Sentiment Rank from InvestorsObserver.

Acv Auctions Inc Cl A has performed a little above average during the past few months. Before the report, Acv Auctions Inc Cl A received a Long-Term Technical Rank by InvestorsObserver of 69, putting it in the top half of stocks. The firm set a 52-week high on July 19, 2023 at $18.68 and set a 52-week low on November 9, 2022 at $6.51.

ACV Auctions Inc is a mobile platform for wholesale car auctions. It provides a digital marketplace for wholesale vehicle transactions and data services that offer transparent and accurate vehicle information for customers.