5 Most Promising Car Stocks According to Analysts

In this article, we discuss the 5 most promising car stocks according to analysts. To read the detailed analysis of the automotive industry, go directly to the 12 Most Promising Car Stocks According to Analysts.

5. ACV Auctions Inc. (NASDAQ:ACVA)

Average Analyst Price Target Upside: 40.17%

Average Analyst Price Target: $20.38

ACV Auctions Inc. (NASDAQ:ACVA) is a New York-based company that provides an online automotive platform for wholesale vehicle transactions and data services.

Over the last three months, ACV Auctions Inc. (NASDAQ:ACVA) was covered by 8 Wall Street analysts, and 7 kept a Buy rating on the stock. The average price target of $20.38 had an upside of 40.17% as of the December 15 market close.

In Q3, 24 hedge funds were bullish on ACV Auctions Inc. (NASDAQ:ACVA)’s stock. With 10.83 million shares worth $164.385 million, Gavin Baker’s Atreides Management was the most significant shareholder in the company.

ACV Auctions Inc. (NASDAQ:ACVA) was mentioned in TimesSquare Capital Management’s second-quarter investor letter. Here is what it said:

“More positive was the 34% climb by ACV Auctions Inc. (NASDAQ:ACVA), a digital marketplace operator for wholesale vehicle sales. They posted solid first quarter results. A recovery in used wholesale volumes was accompanied by improved pricing. Management raised its full-year guidance.”