Truist Financial analyst Naved Khan maintained a Buy rating on ACV Auctions (ACVA – Research Report) on May 12 and set a price target of $18.00. The company’s shares closed last Friday at $8.94, close to its 52-week low of $7.52.
According to TipRanks.com, Khan is a 5-star analyst with an average return of 21.7% and a 59.2% success rate. Khan covers the Technology sector, focusing on stocks such as Zillow Group Class A, Squarespace, and CarGurus.
Currently, the analyst consensus on ACV Auctions is a Strong Buy with an average price target of $20.38, which is a 136.2% upside from current levels. In a report issued on May 5, J.P. Morgan also maintained a Buy rating on the stock with a $17.00 price target.
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Based on ACV Auctions’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $100 million and GAAP net loss of $26.31 million. In comparison, last year the company earned revenue of $53.76 million and had a GAAP net loss of $12.26 million.
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ACV Auctions Inc is a mobile platform for wholesale car auctions. It provides a digital marketplace for wholesale vehicle transactions and data services that offers transparent and accurate vehicle information for customers.
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