AvidXchange (NASDAQ:AVDX) Issues Earnings Results

AvidXchange (NASDAQ:AVDX) announced its quarterly earnings results on Wednesday. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. AvidXchange updated its FY 2025 guidance to 0.250-0.270 EPS.

AvidXchange Stock Down 16.6 %

Shares of AVDX traded down $1.52 on Wednesday, reaching $7.64. The stock had a trading volume of 3,499,603 shares, compared to its average volume of 1,460,565. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 461.00 and a beta of 1.22. The company has a 50-day simple moving average of $10.23 and a 200-day simple moving average of $9.44. AvidXchange has a 12-month low of $6.96 and a 12-month high of $13.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.32.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AVDX. KeyCorp raised their price objective on AvidXchange from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group raised their target price on shares of AvidXchange from $9.00 to $10.00 and gave the stock a “sell” rating in a research note on Monday, December 2nd. Wells Fargo & Company upped their price target on shares of AvidXchange from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. UBS Group upped their price target on shares of AvidXchange from $10.00 to $10.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Barclays boosted their target price on shares of AvidXchange from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AvidXchange presently has a consensus rating of “Hold” and a consensus target price of $11.61.

Insider Buying and Selling at AvidXchange

In related news, Director James E. Hausman sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $11.25, for a total transaction 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 $23,762,610. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Praeger sold 42,377 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.40, for a total value of $483,097.80. Following the transaction, the chief executive officer now directly owns 10,381,033 shares in the company, valued at approximately $118,343,776.20. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,693 shares of company stock valued at $916,683. 10.40% of the stock is currently owned by company insiders.

About AvidXchange

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.