AvidXchange Holdings Inc. [AVDX] moved down -3.64: Why It’s Important


AvidXchange Holdings Inc. [NASDAQ: AVDX] plunged by -$0.24 during the normal trading session on Wednesday and reaching a high of $6.635 during the day while it closed the day at $6.35. The company report on July 13, 2022 that AvidXchange Announces Purchase-to-Pay Integration for Sage 100.

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New end-to-end solution offers automated purchasing, invoice and payment capabilities.

AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced an end-to-end, purchase-to-pay (P2P) integration available for Sage 100 customers in AvidStrongroom. This new offering builds on the company’s suite of solutions integrated with Sage technology including, Sage Intacct, Sage 100 Contractor and Sage 300 CRE.

AvidXchange Holdings Inc. stock has also loss -6.89% of its value over the past 7 days. However, AVDX stock has declined by -22.56% in the 3 months of the year. Over the past six months meanwhile, it has lost -51.19% and lost -57.84% year-on date.

The market cap for AVDX stock reached $1.29 billion, with 197.02 million shares outstanding and 178.15 million shares in the current float. Compared to the average trading volume of 2.20M shares, AVDX reached a trading volume of 4679522 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about AvidXchange Holdings Inc. [AVDX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AVDX shares is $11.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AVDX stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for AvidXchange Holdings Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on April 28, 2022. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Outperform. The new note on the price target was released on April 20, 2022, representing the official price target for AvidXchange Holdings Inc. stock. Previously, the target price had yet another drop from $13 to $10, while Goldman kept a Neutral rating on AVDX stock.

The Average True Range (ATR) for AvidXchange Holdings Inc. is set at 0.54, with the Price to Sales ratio for AVDX stock in the period of the last 12 months amounting to 4.88. The Price to Book ratio for the last quarter was 1.77, with the Price to Cash per share for the same quarter was set at 2.58.

AVDX stock trade performance evaluation

AvidXchange Holdings Inc. [AVDX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.89. With this latest performance, AVDX shares dropped by -14.99% in over the last four-week period, additionally sinking by -51.19% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVDX stock in for the last two-week period is set at 39.83, with the RSI for the last a single of trading hit 37.69, and the three-weeks RSI is set at 41.28 for AvidXchange Holdings Inc. [AVDX]. The present Moving Average for the last 50 days of trading for this stock 7.55, while it was recorded at 6.82 for the last single week of trading.

AvidXchange Holdings Inc. [AVDX]: An insightful look at the core fundamentals

AvidXchange Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.

Earnings per share (EPS) analysis for AvidXchange Holdings Inc. [AVDX] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AVDX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for AvidXchange Holdings Inc. go to -14.07%.

AvidXchange Holdings Inc. [AVDX]: Insider Ownership positions

There are presently around $797 million, or 61.20% of AVDX stock, in the hands of institutional investors. The top three institutional holders of AVDX stocks are: BAIN CAPITAL VENTURE INVESTORS, LLC with ownership of 18,929,292, which is approximately -19.048% of the company’s market cap and around 5.70% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 13,838,867 shares of the stock with an approximate value of $91.2 million in AVDX stocks shares; and CAISSE DE DEPOT ET PLACEMENT DU QUEBEC, currently with $76.31 million in AVDX stock with ownership of nearly 0% of the company’s market capitalization.

69 institutional holders increased their position in AvidXchange Holdings Inc. [NASDAQ:AVDX] by around 18,422,369 shares. Additionally, 40 investors decreased positions by around 12,682,853 shares, while 12 investors held positions by with 89,897,357 shares. The mentioned changes placed institutional holdings at 121,002,579 shares, according to the latest SEC report filing. AVDX stock had 31 new institutional investments in for a total of 8,199,538 shares, while 20 institutional investors sold positions of 1,902,938 shares during the same period.