Barrington analyst Gary Prestopino has maintained their bullish stance on ACVA stock, giving a Buy rating yesterday.
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Gary Prestopino has given his Buy rating due to a combination of factors, including ACV Auctions’ strong financial performance in Q4/24, where the company exceeded both its own and consensus expectations for revenue and adjusted EBITDA. The company reported a 35% increase in sales and a significant improvement in adjusted EBITDA compared to the previous year, reflecting strong market share gains and improved operational leverage.
Additionally, the growth in high-margin auction and assurance revenue, combined with stringent expense control, contributed to the company’s improved profitability. The strategic expansion in ACV Transport and robust revenue growth in ACV Capital further underscore the company’s operational success. These achievements, along with the company’s strong data-driven platform and innovative technology solutions, underpin Gary Prestopino’s positive outlook and Buy rating for ACV Auctions’ stock.
In another report released yesterday, JMP Securities also maintained a Buy rating on the stock with a $22.00 price target.