ACV Auctions Inc (ACVA) PT Lowered to $22 at Citizens JMP

Citizens JMP analyst Nicholas Jones lowered the price target on ACV Auctions Inc (NASDAQ: ACVA) to $22.00 (from $25.00) while maintaining a Market Outperform rating.

The analyst commented, “ACV Auctions Inc. reported solid 4Q results, with both revenue and adjusted EBITDA finishing above consensus estimates. However, guidance for 1Q25 and the full-year came in softer than expected, with shares down ~10% in aftermarket trading. While we would have liked to see better guidance, management's full-year outlook suggesting 22% top-line growth and 30% incremental adj. EBITDA margins indicates continued market share gains given expectations for a flat dealer wholesale market in 2025.”

Also, “Additionally, ACVA exited 2024 with 20,975 marketplace buyers, up 23% y/y, and 14,377 marketplace sellers, up 25% y/y, indicating its ability to continue attracting new rooftops to the platform — management noted that roughly half of U.S. dealers are now transacting on its marketplace.”

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