2024-05-10 17:15:57 ET
Summary
- ACV Auctions Inc. registered a substantial +23% EBITDA beat for Q1 2024, which also marked its maiden quarter of positive EBITDA.
- The company expects to generate positive EBITDA in Q2 and the full year, as per its guidance, which is based on realistic assumptions in my view.
- My opinion is that there is likely to be a positive re-rating of ACV Auctions' share price and valuations going forward, as the company improves its operating profitability.
Elevator Pitch
I award a Buy investment rating to ACV Auctions Inc. ( ACVA ) shares. Earlier, my February 24, 2024, update reviewed ACV Auctions' performance for the final quarter of the prior year....
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ACV Auctions: Eyes On Maiden Quarter Of EBITDA Profitability