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AvidXchange Holdings, Inc. (AVDX) Stock Declines While Market Improves: Some Information for Investors
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The most recent trading session ended with AvidXchange Holdings, Inc. (AVDX - Free Report) standing at $8.41, reflecting a -0.24% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.79%, while the tech-heavy Nasdaq added 0.28%.
Coming into today, shares of the company had gained 13.31% in the past month. In that same time, the Computer and Technology sector gained 3.88%, while the S&P 500 gained 3.48%.
The investment community will be paying close attention to the earnings performance of AvidXchange Holdings, Inc. in its upcoming release. The company is slated to reveal its earnings on November 6, 2024. The company's earnings per share (EPS) are projected to be $0.07, reflecting a 133.33% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $110.89 million, indicating a 12.37% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.24 per share and a revenue of $438.08 million, demonstrating changes of +242.86% and +15.07%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for AvidXchange Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. AvidXchange Holdings, Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, AvidXchange Holdings, Inc. currently has a Forward P/E ratio of 35.13. Its industry sports an average Forward P/E of 31.87, so one might conclude that AvidXchange Holdings, Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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AvidXchange Holdings, Inc. (AVDX) Stock Declines While Market Improves: Some Information for Investors
The most recent trading session ended with AvidXchange Holdings, Inc. (AVDX - Free Report) standing at $8.41, reflecting a -0.24% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.79%, while the tech-heavy Nasdaq added 0.28%.
Coming into today, shares of the company had gained 13.31% in the past month. In that same time, the Computer and Technology sector gained 3.88%, while the S&P 500 gained 3.48%.
The investment community will be paying close attention to the earnings performance of AvidXchange Holdings, Inc. in its upcoming release. The company is slated to reveal its earnings on November 6, 2024. The company's earnings per share (EPS) are projected to be $0.07, reflecting a 133.33% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $110.89 million, indicating a 12.37% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.24 per share and a revenue of $438.08 million, demonstrating changes of +242.86% and +15.07%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for AvidXchange Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. AvidXchange Holdings, Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, AvidXchange Holdings, Inc. currently has a Forward P/E ratio of 35.13. Its industry sports an average Forward P/E of 31.87, so one might conclude that AvidXchange Holdings, Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.