Yahoo Finance AvidXchange Holdings, Inc. (AVDX) Stock Moves -0.18%: What You Should Know
The most recent trading session ended with AvidXchange Holdings, Inc. (AVDX) standing at $10.96, reflecting a -0.18% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.25%. Elsewhere, the Dow saw an upswing of 0.77%, while the tech-heavy Nasdaq depreciated by 0.79%.
Prior to today's trading, shares of the company had gained 0.46% over the past month. This has lagged the Computer and Technology sector's gain of 8.85% and the S&P 500's gain of 3.59% in that time.
Investors will be eagerly watching for the performance of AvidXchange Holdings, Inc. in its upcoming earnings disclosure. At the same time, our most recent consensus estimate is projecting a revenue of $106.32 million, reflecting a 16.64% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.22 per share and revenue of $445.05 million, indicating changes of +214.29% and +16.9%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for AvidXchange Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, AvidXchange Holdings, Inc. holds a Zacks Rank of #3 (Hold).
In terms of valuation, AvidXchange Holdings, Inc. is currently trading at a Forward P/E ratio of 49.35. This indicates a premium in contrast to its industry's Forward P/E of 29.43.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 74, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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AvidXchange Holdings, Inc. (AVDX) : Free Stock Analysis Report
