AvidXchange (NASDAQ:AVDX) Issues Quarterly Earnings Results

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

AvidXchange Stock Down 18.4 %

AVDX traded down $1.68 on Wednesday, reaching $7.47. 1,814,796 shares of the company traded hands, compared to its average volume of 1,413,604. The stock’s 50 day moving average price is $10.23 and its 200-day moving average price is $9.44. AvidXchange has a 52-week low of $6.96 and a 52-week high of $13.56. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 461.00 and a beta of 1.22. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.32 and a quick ratio of 1.32.

Insider Activity at AvidXchange

In related news, Director Teresa Mackintosh sold 13,316 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 47,388 shares of the company’s stock, valued at approximately $542,118.72. The trade was a 21.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Praeger sold 42,377 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.40, for a total transaction of $483,097.80. Following the transaction, the chief executive officer now directly owns 10,381,033 shares in the company, valued at $118,343,776.20. The trade was a 0.41 % 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.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AVDX. Compass Point raised shares of AvidXchange from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $8.00 to $15.00 in a report on Thursday, November 7th. Barclays lifted their price target on shares of AvidXchange from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, November 18th. BTIG Research started coverage on shares of AvidXchange in a report on Wednesday, December 11th. They issued a “buy” rating and a $14.00 price target for the company. Piper Sandler lifted their price target on shares of AvidXchange from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of AvidXchange from $12.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Two research 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, the company presently has an average rating of “Hold” and an average target price of $11.61.

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.