AvidXchange Holdings, Inc. (NASDAQ:AVDX – Get Free Report) insider Ryan Stahl sold 2,649 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $7.77, for a total transaction of $20,582.73. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.
AvidXchange Trading Up 2.0 %
Shares of AVDX stock opened at $7.59 on Thursday. The company has a market capitalization of $1.57 billion, a P/E ratio of -50.60 and a beta of 1.01. AvidXchange Holdings, Inc. has a 12-month low of $6.88 and a 12-month high of $13.56. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $9.21 and a 200 day moving average price of $10.88.
AvidXchange (NASDAQ:AVDX – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. AvidXchange had a negative net margin of 3.18% and a negative return on equity of 0.23%. The company had revenue of $105.30 million during the quarter, compared to analysts’ expectations of $107.13 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. AvidXchange’s quarterly revenue was up 15.6% compared to the same quarter last year. Research analysts forecast that AvidXchange Holdings, Inc. will post 0.03 earnings per share for the current fiscal year.
Institutional Trading of AvidXchange
Analysts Set New Price Targets
Several research analysts have recently issued reports on AVDX shares. Keefe, Bruyette & Woods dropped their price objective on shares of AvidXchange from $13.50 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, August 1st. JPMorgan Chase & Co. cut AvidXchange from an “overweight” rating to a “neutral” rating and cut their price target for the company from $11.00 to $9.00 in a report on Tuesday, August 20th. KeyCorp decreased their price objective on AvidXchange from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. The Goldman Sachs Group cut their target price on AvidXchange from $11.50 to $9.00 and set a “sell” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company decreased their price target on shares of AvidXchange from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.
Check Out 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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