AvidXchange Holdings, Inc. (AVDX – Free Report) ended the recent trading session at $8.48, demonstrating a +0.24% swing from the preceding day’s closing price. This move outpaced the S&P 500’s daily gain of 0.08%. On the other hand, the Dow registered a gain of 0.08%, and the technology-centric Nasdaq increased by 0.52%.
The company’s shares have seen a decrease of 10.85% over the last month, surpassing the Computer and Technology sector’s loss of 12.04% and falling behind the S&P 500’s loss of 7.33%.
Investors will be eagerly watching for the performance of AvidXchange Holdings, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.06, showcasing no movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $109.74 million, indicating a 3.92% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.28 per share and a revenue of $457.33 million, representing changes of +7.69% and +4.19%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for AvidXchange Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 36.36% lower within the past month. As of now, AvidXchange Holdings, Inc. holds a Zacks Rank of #3 (Hold).
In terms of valuation, AvidXchange Holdings, Inc. is presently being traded at a Forward P/E ratio of 30.21. This valuation marks a premium compared to its industry’s average Forward P/E of 27.92.
The Internet – Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 33% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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