AvidXchange (NASDAQ:AVDX) Announces Earnings Results, Misses Estimates By $0.03 EPS

AvidXchange (NASDAQ:AVDX) posted its quarterly earnings results on Wednesday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03), Zacks reports. AvidXchange had a positive return on equity of 0.74% and a negative net margin of 0.23%. The business had revenue of $115.44 million during the quarter, compared to the consensus estimate of $114.98 million. AvidXchange updated its FY 2025 guidance to 0.250-0.270 EPS.

AvidXchange Stock Performance

Shares of AVDX traded up $0.27 during trading hours on Friday, reaching $7.63. 649,713 shares of the company traded hands, compared to its average volume of 1,573,824. The stock’s fifty day moving average is $10.09 and its 200 day moving average is $9.41. AvidXchange has a 1-year low of $6.89 and a 1-year high of $13.56. The stock has a market cap of $1.57 billion, a P/E ratio of 461.00 and a beta of 1.22. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.32.

Insider Transactions at AvidXchange

In other news, Director James E. Hausman sold 25,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $11.25, for a total value of $281,250.00. Following the completion of the sale, the director now owns 2,112,232 shares of the company’s stock, valued at approximately $23,762,610. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Teresa Mackintosh sold 13,316 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $11.44, for a total value of $152,335.04. Following the transaction, the director now directly owns 47,388 shares of the company’s stock, valued at $542,118.72. This trade represents a 21.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,693 shares of company stock worth $916,683. Corporate insiders own 10.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on AvidXchange from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, November 18th. KeyCorp cut AvidXchange from an “overweight” rating to a “sector weight” rating in a research note on Thursday. Compass Point raised shares of AvidXchange from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $8.00 to $15.00 in a research report on Thursday, November 7th. BMO Capital Markets reduced their target price on shares of AvidXchange from $11.00 to $7.50 and set a “market perform” rating for the company in a research report on Thursday. Finally, UBS Group raised their price objective on shares of AvidXchange from $10.00 to $10.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.33.

AvidXchange Company Profile

AvidXchange Holdings, Inc provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America. The company offers AP automation software, a SaaS-based solution that automates and digitizes capture, review, approval, and payment of invoices for buyers; the AvidPay network that connects two-sided payments with buyers and suppliers; and the AvidXchange Supplier Hub, which provides supplier insights to cash flow, tools for in-network invoices and payments, and early payment feature.