AvidXchange (NASDAQ:AVDX) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

AvidXchange (NASDAQ:AVDX) issued its quarterly earnings data on Wednesday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03), Zacks reports. AvidXchange had a positive return on equity of 0.74% and a negative net margin of 0.23%. The company had revenue of $115.44 million for the quarter, compared to analysts’ expectations of $114.98 million. AvidXchange updated its FY 2025 guidance to 0.250-0.270 EPS.

AvidXchange Trading Up 1.3 %

Shares of AVDX traded up $0.10 during midday trading on Thursday, hitting $7.36. The stock had a trading volume of 355,042 shares, compared to its average volume of 1,513,631. The stock’s 50 day moving average is $10.16 and its 200 day moving average is $9.42. The firm has a market cap of $1.51 billion, a PE ratio of 461.00 and a beta of 1.22. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.32 and a quick ratio of 1.32. AvidXchange has a 1 year low of $6.89 and a 1 year high of $13.56.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AVDX shares. Morgan Stanley cut their target price on shares of AvidXchange from $11.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday. Robert W. Baird reduced their price objective on shares of AvidXchange from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday. The Goldman Sachs Group lifted their price target on shares of AvidXchange from $9.00 to $10.00 and gave the company a “sell” rating in a research report on Monday, December 2nd. Piper Sandler increased their target price on AvidXchange from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Compass Point upgraded shares of AvidXchange from a “neutral” rating to a “buy” rating and increased their price target for the company from $8.00 to $15.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.03.

Insiders Place Their Bets

In related news, Director Teresa Mackintosh sold 13,316 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $11.44, for a total transaction of $152,335.04. Following the completion of the sale, the director now directly owns 47,388 shares of the company’s stock, valued at approximately $542,118.72. This trade represents a 21.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Praeger sold 42,377 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.40, for a total value of $483,097.80. Following the completion of the transaction, the chief executive officer now directly owns 10,381,033 shares in the company, valued at $118,343,776.20. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,693 shares of company stock valued at $916,683 over the last 90 days. Insiders own 10.40% of the company’s stock.

AvidXchange Company Profile

AvidXchange Holdings, Inc provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America. The company offers AP automation software, a SaaS-based solution that automates and digitizes capture, review, approval, and payment of invoices for buyers; the AvidPay network that connects two-sided payments with buyers and suppliers; and the AvidXchange Supplier Hub, which provides supplier insights to cash flow, tools for in-network invoices and payments, and early payment feature.