ACV Auctions downgraded to Hold from Buy at Jefferies

Jefferies analyst John Colantuoni downgraded ACV Auctions (ACVA) to Hold from Buy with an unchanged price target of $9. The firm recommends staying selective across the internet sector in 2026. Incremental investments could limit margin expansion and concerns around artificial intelligence disintermediation could limit multiple appreciation, the analyst tells investors in a research note. Jefferies cites ACV’s slowing market share gains for the downgrade.