Barrington analyst Gary Prestopino downgraded ACV Auctions (ACVA) to Market Perform from Outperform without a price target following the Q3 report. The firm cites the company’s lower guidance and lack of near-term unit growth in the dealer market for the downgrade. It reduced estimates citing ACV’s flat dealer market and expenses for growth.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACVA: