ACV Auctions Stock Price Surges On Enhanced Earnings Forecasts
ACV Auctions Inc.’s stocks have been trading up by 7.07 percent following positive sentiment from recent technological advancements.
Latest Developments and Financial Highlights
- Northcoast has raised the price target to $20 from $11 and maintains a Buy rating, reflecting high confidence in future growth.
- ACV Auctions recorded a robust Q3 performance with adjusted EBITDA of $18.7M, a significant improvement from $11.2M last year.
- The company achieved record revenue of $199.6M, slightly missing expectations by a whisker but signaling strong market share growth.
- B. Riley lowered the price target from $24 to $17, maintaining a Buy rating, citing slightly below-par marketplace conversion rates.
- JP Morgan also revised its…
