AvidXchange Holdings, Inc. (NASDAQ:AVDX – Get Free Report) insider Ryan Stahl sold 2,649 shares of AvidXchange stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $7.77, for a total value of $20,582.73. Following the completion of the transaction, the insider now directly owns 384,651 shares of the company’s stock, valued at $2,988,738.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
AvidXchange Trading Up 5.0 %
NASDAQ:AVDX opened at $7.97 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19. AvidXchange Holdings, Inc. has a 1-year low of $6.88 and a 1-year high of $13.56. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -53.13 and a beta of 1.01. The business’s 50-day moving average price is $9.12 and its two-hundred day moving average price is $10.86.
AvidXchange (NASDAQ:AVDX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $105.30 million for the quarter, compared to the consensus estimate of $107.13 million. AvidXchange had a negative net margin of 3.18% and a negative return on equity of 0.23%. AvidXchange’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. On average, equities analysts expect that AvidXchange Holdings, Inc. will post 0.03 earnings per share for the current year.
Institutional Investors Weigh In On AvidXchange
Wall Street Analysts Forecast Growth
Several research firms have weighed in on AVDX. Keefe, Bruyette & Woods lowered their price objective on shares of AvidXchange from $13.50 to $11.00 and set a “market perform” rating for the company in a research report on Thursday, August 1st. Barclays lowered their price target on shares of AvidXchange from $14.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, August 5th. The Goldman Sachs Group reduced their price objective on AvidXchange from $11.50 to $9.00 and set a “sell” rating on the stock in a report on Thursday, August 1st. Susquehanna lowered their target price on AvidXchange from $16.00 to $14.00 and set a “positive” rating for the company in a research note on Thursday, August 1st. Finally, UBS Group lowered AvidXchange from a “buy” rating to a “neutral” rating and cut their price target for the company from $15.00 to $10.00 in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, AvidXchange currently has a consensus rating of “Hold” and a consensus target price of $11.00.
View Our Latest Report on AvidXchange
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.
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