AvidXchange Holdings Inc. [AVDX] stock Initiated by Morgan Stanley analyst, price target now $9


AvidXchange Holdings Inc. [NASDAQ: AVDX] loss -2.08% on the last trading session, reaching $7.07 price per share at the time. The company report on July 19, 2022 that AvidXchange Partners with MDT, Expands Invoice-to-Pay Solution to More Credit Unions.

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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 a referral partnership with Member Driven Technologies (MDT), a credit union service organization. MDT hosts the Episys® core platform from Symitar® to provide a private cloud alternative for core processing and IT needs.

This partnership will help promote AvidAscend, a best-in-class invoice-to-pay software solution, to MDT’s 100+ credit union clients. AvidAscend seamlessly integrates with the Symitar Episys® platform hosted by MDT, allowing users to save time and costs by transitioning from antiquated paper-based systems to streamlining the AP process via one automated, cloud-based solution. Furthermore, automating these processes provides a more organized approach to AP tasks by allowing the platform to handle some of the typical duties of the department, as well as more visibility and control over outstanding invoices, providing back-office professionals more time to focus on bringing strategic value to the organization.

AvidXchange Holdings Inc. represents 197.02 million in outstanding shares, while the company has a total market value of $1.34 billion with the latest information. AVDX stock price has been found in the range of $6.97 to $7.3999.

If compared to the average trading volume of 2.27M shares, AVDX reached a trading volume of 5250390 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $10.68 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 0.41, with the Price to Sales ratio for AVDX stock in the period of the last 12 months amounting to 5.08. The Price to Book ratio for the last quarter was 1.97, with the Price to Cash per share for the same quarter was set at 2.75.

Trading performance analysis for AVDX stock

AvidXchange Holdings Inc. [AVDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.28. With this latest performance, AVDX shares gained by 15.15% in over the last four-week period, additionally sinking by -21.62% 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 52.38, with the RSI for the last a single of trading hit 56.21, and the three-weeks RSI is set at 49.89 for AvidXchange Holdings Inc. [AVDX]. The present Moving Average for the last 50 days of trading for this stock 7.39, while it was recorded at 6.99 for the last single week of trading.

AvidXchange Holdings Inc. [AVDX]: A deeper dive into fundamental analysis

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.

AvidXchange Holdings Inc. [AVDX]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at AvidXchange Holdings Inc. [AVDX]

There are presently around $858 million, or 61.90% 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 $97.84 million in AVDX stocks shares; and CAISSE DE DEPOT ET PLACEMENT DU QUEBEC, currently with $81.86 million in AVDX stock with ownership of nearly 0% of the company’s market capitalization.

75 institutional holders increased their position in AvidXchange Holdings Inc. [NASDAQ:AVDX] by around 18,703,776 shares. Additionally, 39 investors decreased positions by around 12,676,953 shares, while 12 investors held positions by with 89,921,573 shares. The mentioned changes placed institutional holdings at 121,302,302 shares, according to the latest SEC report filing. AVDX stock had 36 new institutional investments in for a total of 8,480,089 shares, while 19 institutional investors sold positions of 1,897,038 shares during the same period.