Invest in AvidXchange Holdings Inc. (AVDX) to keep your portfolio healthy

After finishing at $7.76 in the prior trading day, AvidXchange Holdings Inc. (NASDAQ: AVDX) closed at $7.67, down -1.16%. In other words, the price has decreased by -$0.09 from its previous closing price. On the day, 2028042 shares were traded. AVDX stock price reached its highest trading level at $7.86 during the session, while it also had its lowest trading level at $7.57.

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Our goal is to gain a better understanding of AVDX by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.30 and its Current Ratio is at 1.30. In the meantime, Its Debt-to-Equity ratio is 0.22 whereas as Long-Term Debt/Eq ratio is at 0.21.

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 the company, BofA Securities on November 03, 2022, Downgraded its rating to Underperform and sets its target price to $8 from $10 previously.

On April 28, 2022, Morgan Stanley started tracking the stock assigning a Equal-Weight rating and target price of $9.

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

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 08 when Harris Matthew C sold 950,000 shares for $9.00 per share. The transaction valued at 8,550,000 led to the insider holds 17,979,292 shares of the business.

Wilhite Joel sold 13,272 shares of AVDX for $122,247 on Mar 07. The insider now owns 113,439 shares after completing the transaction at $9.21 per share. On Mar 07, another insider, Drees Daniel, who serves as the insider of the company, sold 12,616 shares for $9.21 each. As a result, the insider received 116,205 and left with 176,087 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 5.08 while its Price-to-Book (P/B) ratio in mrq is 2.32.

Stock Price History:

Over the past 52 weeks, AVDX has reached a high of $11.86, while it has fallen to a 52-week low of $5.86. The 50-Day Moving Average of the stock is 10.09, while the 200-Day Moving Average is calculated to be 8.60.

Shares Statistics:

The stock has traded on average 1.59M shares per day over the past 3-months and 2.83M shares per day over the last 10 days, according to various share statistics. A total of 199.05M shares are outstanding, with a floating share count of 179.01M. Insiders hold about 4.60% of the company’s shares, while institutions hold 70.90% stake in the company. Shares short for AVDX as of Jan 30, 2023 were 5.29M with a Short Ratio of 5.21M, compared to 5.85M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.66% and a Short% of Float of 2.96%.

Earnings Estimates

Its stock is currently analyzed by 9 different market analysts. On average, analysts expect EPS of -$0.09 for the current quarter, with a high estimate of -$0.05 and a low estimate of -$0.13, while EPS last year was -$0.1. The consensus estimate for the next quarter is -$0.08, with high estimates of -$0.03 and low estimates of -$0.13.

Analysts are recommending an EPS of between -$0.25 and -$0.34 for the fiscal current year, implying an average EPS of -$0.29. EPS for the following year is -$0.32, with 9 analysts recommending between -$0.15 and -$0.54.

Revenue Estimates

10 analysts predict $85.26M in revenue for the current quarter. It ranges from a high estimate of $90.64M to a low estimate of $84.32M. As of the current estimate, AvidXchange Holdings Inc.’s year-ago sales were $69.27M, an estimated increase of 23.10% from the year-ago figure. For the next quarter, 10 analysts are estimating revenue of $86.07M, an increase of 20.90% less than the figure of $23.10% in the same quarter last year. There is a high estimate of $95.18M for the next quarter, whereas the lowest estimate is $82.15M.

A total of 12 analysts have provided revenue estimates for AVDX’s current fiscal year. The highest revenue estimate was $320.82M, while the lowest revenue estimate was $314.5M, resulting in an average revenue estimate of $315.37M. In the same quarter a year ago, actual revenue was $248.41M, up 27.00% from the average estimate. Based on 12 analysts’ estimates, the company’s revenue will be $374.52M in the next fiscal year. The high estimate is $414.67M and the low estimate is $355.5M. The average revenue growth estimate for next year is up 18.80% from the average revenue estimate for this year.