AvidXchange (AVDX) Projected to Post Earnings on Wednesday

AvidXchange (NASDAQ:AVDX) is expected to issue its quarterly earnings data before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of $0.06 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

AvidXchange Trading Down 0.9 %

Shares of AvidXchange stock opened at $9.96 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. AvidXchange has a 12-month low of $7.38 and a 12-month high of $13.56. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 534.50 and a beta of 1.22. The firm’s 50 day simple moving average is $10.43 and its two-hundred day simple moving average is $9.36.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. KeyCorp upped their price target on shares of AvidXchange from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. BMO Capital Markets upped their price target on shares of AvidXchange from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods cut their price target on shares of AvidXchange from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group upped their price target on shares of AvidXchange from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Monday, December 2nd. Finally, Piper Sandler upped their price target on shares of AvidXchange from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.61.

Insider Buying and Selling

In related news, Director Teresa Mackintosh sold 13,316 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $11.44, for a total transaction of $152,335.04. Following the sale, the director now directly owns 47,388 shares of the company’s stock, valued at approximately $542,118.72. This represents a 21.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James E. Hausman sold 25,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $11.25, for a total transaction of $281,250.00. Following the transaction, the director now directly owns 2,112,232 shares in the company, valued at approximately $23,762,610. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,693 shares of company stock valued at $916,683. Corporate insiders own 10.40% of the company’s stock.

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.