AvidXchange - AVDX Stock Forecast, Price & News

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 cash flow manager that provides cash management solutions. Its platform offers electronic invoice capture, workflow routing, and automated payments solutions. The company markets its solutions through direct salesforces; strategic channel partnerships; and software and technology business partners. It serves real estate, homeowners associations, construction, financial services, healthcare facilities, social services, education, and media sectors. The company was incorporated in 2000 and is headquartered in Charlotte, North Carolina.

AvidXchange Price Performance

Shares of AVDX Stock opened at 8.40 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50 day moving average price of 7.20 and a 200 day moving average price of 8.27. The firm has a market capitalization of $1.66 billion and a P/E ratio of -5.83. AvidXchange has a 52-week low of 5.86 and a 52-week high of 27.43.

AvidXchange (NASDAQ:AVDX - Get Rating) last issued its earnings results on Wednesday, August 3rd. The company reported -0.07 earnings per share for the quarter, beating analysts' consensus estimates of -0.13 by 0.06. AvidXchange had a negative return on equity of 33.45% and a negative net margin of 56.17%. As a group, sell-side analysts predict that AvidXchange will post -0.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AVDX. Piper Sandler boosted their price objective on shares of AvidXchange from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, August 4th. KeyCorp dropped their target price on shares of AvidXchange from $14.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, July 7th. Credit Suisse Group increased their target price on shares of AvidXchange from $10.50 to $11.00 and gave the company an "outperform" rating in a research report on Thursday, August 4th. Barclays raised their price objective on shares of AvidXchange from $12.00 to $13.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, The Goldman Sachs Group raised their price objective on AvidXchange from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Thursday, August 4th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, AvidXchange currently has a consensus rating of "Moderate Buy" and a consensus price target of 14.82.