Jefferies raised the firm’s price target on ACV Auctions to $20 from $18 and keeps a Buy rating on the shares. Underlying demand trends suggest most internet names are well-positioned to deliver upside to consensus, says the analyst, who is “most constructive” on Delivery and Mobility into Q2. The firm is “mixed” on internet Travel and “cautious” on e-commerce as growth “remains underwhelming despite some recent signs of improvement,” the analyst added in a internet group preview note.
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Read More on ACVA:
- ACV Auctions initiated with a Buy at B. Riley
- ACV to Report Second Quarter 2023 Financial Results and Participate in the Canaccord Genuity 43rd Annual Growth Conference
- ACV Auctions downgraded to Neutral from Overweight at JPMorgan
- Online auto companies’ trends show some improvement in May, says JMP Securities
- ACV Auctions price target raised to $15 from $14 at Piper Sandler
