AvidXchange Holdings, Inc. (NASDAQ:AVDX – Get Free Report) insider Joel Wilhite sold 47,308 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $8.10, for a total value of $383,194.80. Following the completion of the sale, the insider now owns 413,687 shares of the company’s stock, valued at $3,350,864.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
AvidXchange Stock Performance
NASDAQ:AVDX remained flat at $8.00 during mid-day trading on Tuesday. The company had a trading volume of 1,916,704 shares, compared to its average volume of 2,101,603. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.65 billion, a P/E ratio of -53.33 and a beta of 1.03. The stock has a fifty day moving average of $10.53 and a two-hundred day moving average of $11.40. AvidXchange Holdings, Inc. has a 12 month low of $6.88 and a 12 month high of $13.56.
AvidXchange (NASDAQ:AVDX – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $105.30 million for the quarter, compared to the consensus estimate of $107.13 million. AvidXchange had a negative net margin of 3.18% and a negative return on equity of 0.23%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. On average, research analysts expect that AvidXchange Holdings, Inc. will post 0.01 earnings per share for the current fiscal year.
Institutional Investors Weigh In On AvidXchange
Analysts Set New Price Targets
AVDX has been the subject of a number of research reports. Robert W. Baird lowered their price objective on shares of AvidXchange from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. 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 research note on Thursday, August 1st. BMO Capital Markets cut their price objective on shares of AvidXchange from $13.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, August 1st. Barclays lowered their target price on AvidXchange from $14.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Wells Fargo & Company cut their price target on AvidXchange from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, AvidXchange has a consensus rating of “Hold” and a consensus target price of $11.25.
Get Our Latest Stock Analysis on AvidXchange
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.
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