AvidXchange Holdings Inc [NASDAQ: AVDX] traded at a high on Wednesday, posting a 4.53 gain after which it closed the day’ session at $12.69. The company report on February 28, 2024 at 6:45 AM that AvidXchange Announces Fourth Quarter 2023 Financial Results.
Transaction growth and solid yield expansion drive year over year fourth quarter 2023 revenue growth.
Yield expansion coupled with lower unit cost fuel year over year fourth quarter 2023 gross margin expansion .
The results of the trading session contributed to over 5758604 shares changing hands. Over the past one week, the price volatility of AvidXchange Holdings Inc stands at 3.76% while the volatility over the past one month is 3.19%.
The market cap for AVDX stock reached $2.57 billion, with 199.43 million shares outstanding and 153.28 million shares in the current float. Compared to the average trading volume of 1.91M shares, AVDX reached a trading volume of 5758604 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $13.50 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 1.91. 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.
Piper Sandler have made an estimate for AvidXchange Holdings Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 02, 2024. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on December 06, 2023, representing the official price target for AvidXchange Holdings Inc stock. Previously, the target price had yet another raise to $11, while BMO Capital Markets analysts kept a Market Perform rating on AVDX stock.
The Average True Range (ATR) for AvidXchange Holdings Inc is set at 0.43, with the Price to Sales ratio for AVDX stock in the period of the last 12 months amounting to 7.10. The Price to Book ratio for the last quarter was 3.97, with the Price to Cash per share for the same quarter was set at 2.17.
How has AVDX stock performed recently?
AvidXchange Holdings Inc [AVDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.82. With this latest performance, AVDX shares gained by 10.93% in over the last four-week period, additionally plugging by 28.05% over the last 6 months – not to mention a rise of 29.75% 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 65.26, with the RSI for the last a single of trading hit 69.11, and the three-weeks RSI is set at 62.84 for AvidXchange Holdings Inc [AVDX]. The present Moving Average for the last 50 days of trading for this stock 11.69, while it was recorded at 12.25 for the last single week of trading, and 10.47 for the last 200 days.
AvidXchange Holdings Inc [AVDX]: Deeper insight into the fundamentals
AvidXchange Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.32 and a Current Ratio set at 1.32.
Earnings analysis for AvidXchange Holdings Inc [AVDX]
With the latest financial reports released by the company, AvidXchange Holdings Inc posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 55.60%. 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.
Insider trade positions for AvidXchange Holdings Inc [AVDX]
The top three institutional holders of AVDX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AVDX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AVDX stock with ownership which is approximately 5.8325%.
