We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AvidXchange Holdings, Inc. (AVDX) Stock Declines While Market Improves: Some Information for Investors
Read MoreHide Full Article
The most recent trading session ended with AvidXchange Holdings, Inc. (AVDX - Free Report) standing at $8.38, reflecting a -0.36% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.16% gain on the day. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.78%.
The company's shares have seen an increase of 3.7% over the last month, surpassing the Computer and Technology sector's gain of 1.87% and the S&P 500's gain of 1.67%.
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. In that report, analysts expect AvidXchange Holdings, Inc. to post earnings of $0.07 per share. This would mark year-over-year growth of 133.33%. Simultaneously, our latest consensus estimate expects the revenue to be $110.89 million, showing a 12.37% escalation compared to the year-ago quarter.
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 might also notice recent changes to analyst estimates for AvidXchange Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. 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 35.04. This represents a premium compared to its industry's average Forward P/E of 32.31.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 58, placing it within the top 24% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
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 $8.38, reflecting a -0.36% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.16% gain on the day. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.78%.
The company's shares have seen an increase of 3.7% over the last month, surpassing the Computer and Technology sector's gain of 1.87% and the S&P 500's gain of 1.67%.
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. In that report, analysts expect AvidXchange Holdings, Inc. to post earnings of $0.07 per share. This would mark year-over-year growth of 133.33%. Simultaneously, our latest consensus estimate expects the revenue to be $110.89 million, showing a 12.37% escalation compared to the year-ago quarter.
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 might also notice recent changes to analyst estimates for AvidXchange Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. 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 35.04. This represents a premium compared to its industry's average Forward P/E of 32.31.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 58, placing it within the top 24% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.