An overview of AvidXchange Holdings Inc’s (AVDX) institutional holdings

The price of AvidXchange Holdings Inc (NASDAQ:AVDX) shares last traded on Wall Street fell -13.14% to $7.60.

Based on available information, 13 analysts follow AvidXchange Holdings Inc (NASDAQ:AVDX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $9.00, we find $12.00. Given the previous closing price of $8.75, this indicates a potential upside of 37.14 percent. AVDX stock price is now -18.98% away from the 50-day moving average and -20.81% away from the 200-day moving average. The market capitalization of the company currently stands at $1.54B.

Among analysts, 3 rate the stock a hold while 7 rate it a buy. Brokers who have rated the stock have averaged $12.65 as their price target over the next twelve months.

With the price target of $9, Wells Fargo recently initiated with Equal Weight rating for AvidXchange Holdings Inc (NASDAQ: AVDX).

In other news, Praeger Michael, Chief Executive Officer sold 59,562 shares of the company’s stock on Aug 17. The stock was sold for $598,193 at an average price of $10.04. Upon completion of the transaction, the Chief Executive Officer now directly owns 9,917,588 shares in the company, valued at $75.37 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 15, Chief Executive Officer Praeger Michael sold 25,789 shares of the business’s stock. A total of $260,211 was realized by selling the stock at an average price of $10.09. This leaves the insider owning 9,977,150 shares of the company worth $75.83 million. Insiders disposed of 5,206,879 shares of company stock worth roughly $39.57 million over the past 1 year. A total of 26.23% of the company’s stock is owned by insiders.

A candlestick chart of AvidXchange Holdings Inc (NASDAQ: AVDX) showed a price of $8.28 on Friday morning. During the past 12 months, AvidXchange Holdings Inc has had a low of $7.02 and a high of $12.75. As of last week, the company has a debt-to-equity ratio of 0.23, a current ratio of 1.32, and a quick ratio of 1.32. The fifty day moving average price for AVDX is $9.33 and a two-hundred day moving average price translates $9.58 for the stock.

The latest earnings results from AvidXchange Holdings Inc (NASDAQ: AVDX) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0, beating analysts’ expectations of -$0.04 by 0.04. This compares to -$0.13 EPS in the same period last year. The net profit margin was -24.57% and return on equity was -12.78% for AVDX. The company reported revenue of $91.15 million for the quarter, compared to $76.56 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.06 percent. For the current quarter, analysts expect AVDX to generate $94.7M in revenue.

AvidXchange Holdings Inc(AVDX) 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 Cashflow 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.

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