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AvidXchange Holdings, Inc. (AVDX) Outpaces Stock Market Gains: What You Should Know
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In the latest market close, AvidXchange Holdings, Inc. (AVDX - Free Report) reached $12.42, with a +0.57% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.07%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.14%.
Shares of the company witnessed a gain of 13.51% over the previous month, beating the performance of the Computer and Technology sector with its gain of 8.61% and the S&P 500's gain of 4.34%.
Investors will be eagerly watching for the performance of AvidXchange Holdings, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 31, 2024. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $106.32 million, up 16.64% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.22 per share and a revenue of $445.05 million, demonstrating changes of +214.29% and +16.9%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for AvidXchange Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. AvidXchange Holdings, Inc. presently features a Zacks Rank of #3 (Hold).
Investors should also note AvidXchange Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 55.51. Its industry sports an average Forward P/E of 29.66, so one might conclude that AvidXchange Holdings, Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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AvidXchange Holdings, Inc. (AVDX) Outpaces Stock Market Gains: What You Should Know
In the latest market close, AvidXchange Holdings, Inc. (AVDX - Free Report) reached $12.42, with a +0.57% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.07%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.14%.
Shares of the company witnessed a gain of 13.51% over the previous month, beating the performance of the Computer and Technology sector with its gain of 8.61% and the S&P 500's gain of 4.34%.
Investors will be eagerly watching for the performance of AvidXchange Holdings, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 31, 2024. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $106.32 million, up 16.64% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.22 per share and a revenue of $445.05 million, demonstrating changes of +214.29% and +16.9%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for AvidXchange Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. AvidXchange Holdings, Inc. presently features a Zacks Rank of #3 (Hold).
Investors should also note AvidXchange Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 55.51. Its industry sports an average Forward P/E of 29.66, so one might conclude that AvidXchange Holdings, Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.