ACV Auctions Surges 20% on Bloomberg Report It Is Exploring a Sale After Takeover Interest

ACV Auctions (ACVA) jumped roughly 20% in premarket trading on August 11 after Bloomberg reported the Buffalo, New York-based digital automotive marketplace is exploring strategic alternatives, including a potential sale, after receiving takeover interest. The company is working with financial advisers on the review and is also weighing a strategic partnership as a possible outcome. No transaction has been agreed, and any deal remains weeks away, with ACV potentially staying independent.

The report overshadowed a difficult stretch for the stock, which had fallen 47% over the prior year before Tuesday's rally; shares closed Monday at $7.26, giving the company a market capitalization of roughly $1.2 billion. The takeover news came alongside ACV's Q2 2026 earnings, which showed record revenue of $214 million, adjusted EBITDA of $21 million above the high end of guidance, a GAAP net loss of $8 million, and non-GAAP net income of $10 million. The company reaffirmed its full-year 2026 revenue guidance of $845 million to $855 million and adjusted EBITDA of $73 million to $77 million.

Bank of America raised its price target on the stock following the Q2 results, while B. Riley cut its target citing wholesale headwinds, and Citizens reiterated its rating citing share gains. ACV also announced a CFO transition, with Tim Fox, vice president of investor relations and strategic finance, succeeding Bill Zerella effective August 11; Zerella is departing to become CFO at another company and will remain in an advisory role through October 2, 2026.