AvidXchange Holdings Inc. [AVDX] Stock trading around $9.00 per share: What’s Next?

AvidXchange Holdings Inc. [NASDAQ: AVDX] price plunged by -1.21 percent to reach at -$0.11. The company report on March 8, 2023 that AvidXchange to Participate in Wolfe Research FinTech Forum.

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A live webcast of the presentation will be available on the Events page of the AvidXchange investor relations website at https://ir.avidxchange.com/. A replay of the webcast will also be available for a limited time.

A sum of 1209401 shares traded at recent session while its average daily volume was at 1.46M shares. AvidXchange Holdings Inc. shares reached a high of $9.12 and dropped to a low of $8.89 until finishing in the latest session at $9.00.

The one-year AVDX stock forecast points to a potential upside of 19.43. The average equity rating for AVDX stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $11.17 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 2.20. 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.

BofA Securities have made an estimate for AvidXchange Holdings Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on November 03, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on April 28, 2022, representing the official price target for AvidXchange Holdings Inc. stock. Previously, the target price had yet another raise to $16, while Robert W. Baird analysts kept a Outperform rating on AVDX stock. On April 08, 2022, analysts decreased their price target for AVDX shares from 13 to 10.

The Average True Range (ATR) for AvidXchange Holdings Inc. is set at 0.47, with the Price to Sales ratio for AVDX stock in the period of the last 12 months amounting to 5.00. The Price to Book ratio for the last quarter was 2.73, with the Price to Cash per share for the same quarter was set at 2.63.

AVDX Stock Performance Analysis:

AvidXchange Holdings Inc. [AVDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.11. With this latest performance, AVDX shares dropped by -17.20% in over the last four-week period, additionally plugging by 12.92% over the last 6 months – not to mention a rise of 3.09% in the past year of trading.

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 37.91, with the RSI for the last a single of trading hit 35.71, and the three-weeks RSI is set at 40.71 for AvidXchange Holdings Inc. [AVDX]. The present Moving Average for the last 50 days of trading for this stock 10.22, while it was recorded at 9.29 for the last single week of trading, and 8.63 for the last 200 days.

Insight into AvidXchange Holdings Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and AvidXchange Holdings Inc. [AVDX] shares currently have an operating margin of -27.62 and a Gross Margin at +52.36. AvidXchange Holdings Inc.’s Net Margin is presently recorded at -32.02.

Return on Equity for this stock declined to -14.67, with Return on Assets sitting at -4.52.

AvidXchange Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

AvidXchange Holdings Inc. [AVDX] Insider Position Details

There are presently around $1,225 million, or 70.90% 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 0% of the company’s market cap and around 4.60% of the total institutional ownership; VANGUARD GROUP INC, holding 13,250,855 shares of the stock with an approximate value of $119.26 million in AVDX stocks shares; and BLACKROCK INC., currently with $113.53 million in AVDX stock with ownership of nearly 8.622% of the company’s market capitalization.

Positions in AvidXchange Holdings Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 80 institutional holders increased their position in AvidXchange Holdings Inc. [NASDAQ:AVDX] by around 16,893,886 shares. Additionally, 46 investors decreased positions by around 20,631,220 shares, while 25 investors held positions by with 98,631,365 shares. The mentioned changes placed institutional holdings at 136,156,471 shares, according to the latest SEC report filing. AVDX stock had 28 new institutional investments in for a total of 3,144,442 shares, while 18 institutional investors sold positions of 14,790,394 shares during the same period.


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