AvidXchange (NASDAQ:AVDX) Issues Earnings Results

AvidXchange (NASDAQ:AVDX) posted its earnings results on Wednesday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03), Zacks reports. AvidXchange had a negative net margin of 0.23% and a positive return on equity of 0.74%. AvidXchange updated its FY 2025 guidance to 0.250-0.270 EPS.

AvidXchange Stock Performance

NASDAQ:AVDX traded down $1.68 during trading hours on Wednesday, hitting $7.47. 1,814,796 shares of the company traded hands, compared to its average volume of 1,413,604. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 461.00 and a beta of 1.22. AvidXchange has a twelve month low of $6.96 and a twelve month high of $13.56. The firm has a 50-day moving average of $10.23 and a 200 day moving average of $9.44. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11.

Insider Activity at AvidXchange

In other AvidXchange news, Director Teresa Mackintosh sold 13,316 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $11.44, for a total value of $152,335.04. Following the sale, the director now owns 47,388 shares of the company’s stock, valued at $542,118.72. The trade was a 21.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James E. Hausman sold 25,000 shares of the business’s 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 completion of the sale, the director now directly owns 2,112,232 shares in the company, valued at $23,762,610. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,693 shares of company stock worth $916,683 in the last ninety days. 10.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. BMO Capital Markets lifted their target price 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. UBS Group boosted their price objective on shares of AvidXchange from $10.00 to $10.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Compass Point upgraded shares of AvidXchange from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $8.00 to $15.00 in a research note on Thursday, November 7th. KeyCorp boosted their price objective on shares of AvidXchange from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Piper Sandler boosted their price objective on shares of AvidXchange from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.61.

About AvidXchange

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.