AvidXchange (AVDX) Scheduled to Post Quarterly Earnings on Wednesday

AvidXchange (NASDAQ:AVDX) will release its earnings data before the market opens on Wednesday, May 8th. Analysts expect AvidXchange to post earnings of $0.03 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

AvidXchange Price Performance

AvidXchange stock opened at $12.12 on Monday. The company’s 50 day simple moving average is $12.37 and its 200-day simple moving average is $11.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 1.25. AvidXchange has a 1 year low of $6.88 and a 1 year high of $13.56. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -52.69 and a beta of 1.07.

Insider Buying and Selling at AvidXchange

In other news, insider Ryan Stahl sold 4,217 shares of AvidXchange stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.43, for a total transaction of $52,417.31. Following the completion of the sale, the insider now directly owns 384,588 shares of the company’s stock, valued at approximately $4,780,428.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, President Daniel Drees sold 17,604 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $13.02, for a total value of $229,204.08. Following the completion of the transaction, the president now directly owns 750,744 shares of the company’s stock, valued at $9,774,686.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan Stahl sold 4,217 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $12.43, for a total transaction of $52,417.31. Following the sale, the insider now directly owns 384,588 shares in the company, valued at approximately $4,780,428.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,010,167 shares of company stock valued at $39,077,190. Insiders own 10.30% of the company’s stock.

Analysts Set New Price Targets

AVDX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on AvidXchange from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Piper Sandler decreased their target price on AvidXchange from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $11.50 target price (down from $13.00) on shares of AvidXchange in a research report on Monday, April 15th. Keefe, Bruyette & Woods started coverage on shares of AvidXchange in a research report on Tuesday, April 9th. They set a “market perform” rating and a $13.50 price target on the stock. Finally, Susquehanna lifted their price objective on shares of AvidXchange from $15.00 to $16.00 and gave the company a “positive” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.14.

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.