AvidXchange Holdings, Inc. (NASDAQ:AVDX – Get Free Report) insider Ryan Stahl sold 2,649 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $7.77, for a total transaction of $20,582.73. Following the completion of the transaction, the insider now directly owns 384,651 shares in the company, valued at approximately $2,988,738.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
AvidXchange Stock Performance
Shares of AVDX opened at $7.59 on Thursday. The firm has a market cap of $1.57 billion, a P/E ratio of -50.60 and a beta of 1.01. AvidXchange Holdings, Inc. has a twelve month low of $6.88 and a twelve month high of $13.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 1.36. The firm’s 50 day moving average price is $9.21 and its two-hundred day moving average price is $10.88.
AvidXchange (NASDAQ:AVDX – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $105.30 million for the quarter, compared to analysts’ expectations of $107.13 million. AvidXchange had a negative net margin of 3.18% and a negative return on equity of 0.23%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. On average, analysts forecast that AvidXchange Holdings, Inc. will post 0.03 EPS for the current fiscal year.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Compass Point began coverage on shares of AvidXchange in a report on Wednesday, September 4th. They set a “neutral” rating and a $8.00 target price for the company. Barclays dropped their price objective on AvidXchange from $14.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, August 5th. KeyCorp reduced their target price on AvidXchange from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Robert W. Baird lowered their price target on AvidXchange from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group reduced their price objective on shares of AvidXchange from $11.50 to $9.00 and set a “sell” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.00.
Get Our Latest Stock 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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