BofA Securities lowers ACV Auctions stock price target due to market headwinds

au.investing.com

BofA Securities lowered its price target for ACV Auctions stock to $5.60 from $7.00. The firm maintained an Underperform rating, citing market headwinds. ACV Auctions' stock has fallen 67% in the past year, despite exceeding revenue expectations in the first quarter. The company reported strong revenue growth and reaffirmed its full-year outlook, while also authorizing a $50 million share buyback program.


With a significance score of 0.9, this news ranks in the top 77% of today's 28679 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers: