AvidXchange (NASDAQ:AVDX) Issues Quarterly Earnings Results

AvidXchange (NASDAQ:AVDX) posted its earnings results on Wednesday. The company reported $0.03 earnings per share 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 NASDAQ AVDX traded up $0.27 during trading hours on Friday, hitting $7.63. 649,713 shares of the stock were exchanged, compared to its average volume of 1,573,824. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.32 and a quick ratio of 1.32. The company’s 50 day moving average is $10.09 and its 200 day moving average is $9.41. The firm has a market capitalization of $1.57 billion, a P/E ratio of 461.00 and a beta of 1.22. AvidXchange has a one year low of $6.89 and a one year high of $13.56.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AVDX shares. BTIG Research assumed coverage on shares of AvidXchange in a research report on Wednesday, December 11th. They issued a “buy” rating and a $14.00 price objective on the stock. Piper Sandler decreased their price objective on AvidXchange from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday. Wells Fargo & Company dropped their price objective on shares of AvidXchange from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday. Compass Point raised shares of AvidXchange from a “neutral” rating to a “buy” rating and upped their target price for the company from $8.00 to $15.00 in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of AvidXchange from $11.00 to $8.00 and set a “market perform” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, AvidXchange has an average rating of “Hold” and a consensus target price of $10.33.

Insider Transactions at AvidXchange

In related news, Director Teresa Mackintosh sold 13,316 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $11.44, for a total transaction of $152,335.04. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James E. Hausman sold 25,000 shares of the stock in a transaction on 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 transaction, the director now owns 2,112,232 shares in the company, valued at $23,762,610. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,693 shares of company stock worth $916,683. Insiders own 10.40% of the company’s stock.

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.