ACV Auctions executives are traveling to Manhattan this week to meet with analysts in an effort to explain the company's growth strategy and boost its stock.
The Buffalo company, which went public in March 2021, will come to the meeting with new developments in hand: ACV announced two acquisitions in February, including Monk SAS and Drivably, each of which offer digital solutions in the used car industry.
ACV (NASDAQ: ACVA) plans to triple revenue to more than $1.3 billion by 2026 and plans to get there partly by introducing clients to new technology tools.
"Imaging AI is a strategic addition to our product roadmap as we build the most comprehensive data services platform in the industry," chief operating officer Vikas Mehta said in announcing the Monk SAS acquisition.
ACV is hosting an analyst presentation today at the NASDAQ headquarters in Manhattan and also plans to introduce the capabilities of its new acquisitions at the National Automotive Dealers Association Conference in Las Vegas from March 10-13.
Company shares are trading just above $13 after falling below $10.50 two weeks ago. ACV debuted on the NASDAQ at $25 per share.
