AVDX (AvidXchange Holdings Inc.) stock is in for a key growth catalyst

As of close of business last night, AvidXchange Holdings Inc.’s stock clocked out at 8.27, up 0.12% from its previous closing price of $8.26. In other words, the price has increased by $+0.01 from its previous closing price. On the day, 1043567 shares were traded. AVDX reached its highest trading level at $8.40 during the session, while it also had its lowest trading level at $8.08.

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Ratios:

To gain a deeper understanding of AVDX’s stock, we examine its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.40 and its Current Ratio is at 1.40. In the meantime, Its Debt-to-Equity ratio is 0.28 whereas as Long-Term Debt/Eq ratio is at 0.27.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Morgan Stanley on April 28, 2022, initiated with a Equal-Weight rating and assigned the stock a target price of $9.

On April 20, 2022, Robert W. Baird started tracking the stock assigning a Outperform rating and target price of $16.

Goldman Downgraded its Buy to Neutral on April 08, 2022, whereas the target price for the stock was revised from $13 to $10.

Insider Transactions:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Aug 15 when Wilhite Joel sold 3,250 shares for $9.14 per share. The transaction valued at 29,705 led to the insider holds 56,375 shares of the business.

Stahl Ryan sold 1,033 shares of AVDX for $9,442 on Aug 15. The now owns 112,983 shares after completing the transaction at $9.14 per share. On Aug 15, another insider, Drees Daniel, who serves as the of the company, sold 2,198 shares for $9.14 each. As a result, the insider received 20,090 and left with 123,359 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 6.05 while its Price-to-Book (P/B) ratio in mrq is 2.38.

Stock Price History:

Over the past 52 weeks, AVDX has reached a high of $27.43, while it has fallen to a 52-week low of $5.86. The 50-Day Moving Average of the stock is 7.84, while the 200-Day Moving Average is calculated to be 9.40.

Shares Statistics:

It appears that AVDX traded 2.22M shares on average per day over the past three months and 2.34M shares per day over the past ten days. A total of 197.87M shares are outstanding, with a floating share count of 178.41M. Insiders hold about 5.80% of the company’s shares, while institutions hold 69.50% stake in the company. Shares short for AVDX as of Jul 14, 2022 were 8.05M with a Short Ratio of 2.29, compared to 4.13M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.07% and a Short% of Float of 4.52%.

Earnings Estimates

As of right now, 8 analysts gave their recommendation on the stock of the company. The consensus estimate for the next quarter is $-0.12, with high estimates of $-0.1 and low estimates of $-0.15.

Analysts are recommending an EPS of between $-0.32 and $-0.57 for the fiscal current year, implying an average EPS of $-0.42. EPS for the following year is $-0.43, with 9 analysts recommending between $-0.3 and $-0.57.

Revenue Estimates

A total of 12 analysts have provided revenue estimates for AVDX’s current fiscal year. The highest revenue estimate was $307.15M, while the lowest revenue estimate was $303.68M, resulting in an average revenue estimate of $305.59M. In the same quarter a year ago, actual revenue was $248.41M, up 23.00% from the average estimate. Based on 12 analysts’ estimates, the company’s revenue will be $365.28M in the next fiscal year. The high estimate is $383.38M and the low estimate is $356.33M. The average revenue growth estimate for next year is up 19.50% from the average revenue estimate for this year.