Citizens JMP Reiterates Market Outperform Rating on ACV Auctions Inc (ACVA)

Citizens JMP analyst Nicholas Jones reiterated a Market Outperform rating and $20.00 price target on ACV Auctions Inc (NASDAQ: ACVA).

The analyst commented, “We believe the auto macro is relatively stable today, though there was likely some pull forward earlier in the year following the announcement of auto tariffs, and interest rates remain stubbornly high as auto affordability has been challenging since the beginning of COVID. However, we believe Carvana and ACV have idiosyncratic drivers that can outperform industry growth as they are transforming the industry through technology, reducing friction for consumers and dealers, respectively, while taking share from legacy auto companies. With both companies benefiting from scale, which improves services and increases margins, we believe both businesses have a long runway to compound.”

For an analyst ratings summary and ratings history on ACV Auctions Inc click here. For more ratings news on ACV Auctions Inc click here.

Shares of ACV Auctions Inc closed at $15.31 yesterday.

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