AvidXchange (AVDX) to Release Earnings on Wednesday

AvidXchange (NASDAQ:AVDX - Get Free Report) will likely be posting its quarterly earnings results before the market opens on Wednesday, February 26th. Analysts expect AvidXchange to post earnings of $0.06 per share for the quarter. Investors that wish to listen to the company's conference call can do so using this link.

AvidXchange Stock Performance

Shares of NASDAQ:AVDX traded down $0.27 during trading on Friday, hitting $9.22. 1,104,111 shares of the stock traded hands, compared to its average volume of 1,412,995. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $10.35 and a two-hundred day moving average price of $9.38. AvidXchange has a 52-week low of $7.38 and a 52-week high of $13.56. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 488.50 and a beta of 1.22.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group increased their target price on shares of AvidXchange from $10.00 to $10.50 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods lowered their price target on AvidXchange from $12.00 to $11.00 and set a "market perform" rating on the stock in a research report on Monday, January 6th. Compass Point upgraded AvidXchange from a "neutral" rating to a "buy" rating and increased their price target for the stock from $8.00 to $15.00 in a research report on Thursday, November 7th. KeyCorp upped their target price on AvidXchange from $12.00 to $13.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Finally, 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 research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $11.61.

Insiders Place Their Bets

In other news, Director Teresa Mackintosh sold 13,316 shares of the business's stock in a transaction dated 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 owns 47,388 shares of the company's stock, valued at approximately $542,118.72. The trade was a 21.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James E. Hausman sold 25,000 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $11.25, for a total transaction of $281,250.00. Following the sale, the director now owns 2,112,232 shares of the company's stock, valued at approximately $23,762,610. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,693 shares of company stock valued at $916,683 in the last ninety days. 10.40% of the stock is currently owned by corporate insiders.

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.