AvidXchange Holdings, Inc. (AVDX) closed at $7.69 in the latest trading session, marking a +1.72% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.81%. Elsewhere, the Dow gained 1.56%, while the tech-heavy Nasdaq added 2.06%.
The the stock of company has fallen by 3.57% in the past month, leading the Computer and Technology sector's loss of 7.27% and the S&P 500's loss of 6.14%.
The investment community will be closely monitoring the performance of AvidXchange Holdings, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on May 7, 2025. It is anticipated that the company will report an EPS of $0.06, marking stability compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $109.74 million, up 3.92% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.26 per share and revenue of $457.33 million, which would represent changes of 0% and +4.19%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for AvidXchange Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. AvidXchange Holdings, Inc. is currently a Zacks Rank #3 (Hold).
From a valuation perspective, AvidXchange Holdings, Inc. is currently exchanging hands at a Forward P/E ratio of 29.36. This represents a premium compared to its industry's average Forward P/E of 24.57.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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AvidXchange Holdings, Inc. (AVDX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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