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AvidXchange Holdings, Inc. (AVDX) Laps the Stock Market: Here's Why
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The latest trading session saw AvidXchange Holdings, Inc. (AVDX - Free Report) ending at $10.81, denoting a +1.69% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.39%. At the same time, the Dow added 0.71%, and the tech-heavy Nasdaq gained 0.2%.
The company's stock has climbed by 5.04% in the past month, exceeding the Computer and Technology sector's gain of 0.04% and the S&P 500's gain of 1.7%.
Market participants will be closely following the financial results of AvidXchange Holdings, Inc. in its upcoming release. The company plans to announce its earnings on February 26, 2025. The company's earnings per share (EPS) are projected to be $0.06, reflecting a 20% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $114.98 million, up 10.49% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for AvidXchange Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, there's been no change in the Zacks Consensus EPS estimate. AvidXchange Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, AvidXchange Holdings, Inc. is currently exchanging hands at a Forward P/E ratio of 32.46. This expresses a premium compared to the average Forward P/E of 31.7 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 68, positioning it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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) Laps the Stock Market: Here's Why
The latest trading session saw AvidXchange Holdings, Inc. (AVDX - Free Report) ending at $10.81, denoting a +1.69% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.39%. At the same time, the Dow added 0.71%, and the tech-heavy Nasdaq gained 0.2%.
The company's stock has climbed by 5.04% in the past month, exceeding the Computer and Technology sector's gain of 0.04% and the S&P 500's gain of 1.7%.
Market participants will be closely following the financial results of AvidXchange Holdings, Inc. in its upcoming release. The company plans to announce its earnings on February 26, 2025. The company's earnings per share (EPS) are projected to be $0.06, reflecting a 20% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $114.98 million, up 10.49% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for AvidXchange Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, there's been no change in the Zacks Consensus EPS estimate. AvidXchange Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, AvidXchange Holdings, Inc. is currently exchanging hands at a Forward P/E ratio of 32.46. This expresses a premium compared to the average Forward P/E of 31.7 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 68, positioning it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.