ACV Auctions price target lowered to $22 from $23 at B. Riley

B. Riley analyst Naved Khan lowered the firm’s price target on ACV Auctions to $22 from $23 and keeps a Buy rating on the shares. The company reported better than expected Q3 results, with faster unit growth and continued market share gain, the analyst tells investors. The firm notes opportunity in commercial continues to be meaningful and sees some traction over the medium term, B. Riley adds.