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AvidXchange Holdings, Inc. (AVDX) Exceeds Market Returns: Some Facts to Consider
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In the latest market close, AvidXchange Holdings, Inc. (AVDX - Free Report) reached $12.42, with a +0.89% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.28%. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw an increase of 0.4%.
The the stock of company has risen by 13.67% in the past month, leading the Computer and Technology sector's gain of 4.22% and the S&P 500's gain of 3.78%.
The upcoming earnings release of AvidXchange Holdings, Inc. will be of great interest to investors. The company's earnings report is expected 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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for AvidXchange Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, AvidXchange Holdings, Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, AvidXchange Holdings, Inc. is presently being traded at a Forward P/E ratio of 55.33. This signifies a premium in comparison to the average Forward P/E of 29.77 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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AvidXchange Holdings, Inc. (AVDX) Exceeds Market Returns: Some Facts to Consider
In the latest market close, AvidXchange Holdings, Inc. (AVDX - Free Report) reached $12.42, with a +0.89% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.28%. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw an increase of 0.4%.
The the stock of company has risen by 13.67% in the past month, leading the Computer and Technology sector's gain of 4.22% and the S&P 500's gain of 3.78%.
The upcoming earnings release of AvidXchange Holdings, Inc. will be of great interest to investors. The company's earnings report is expected 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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for AvidXchange Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, AvidXchange Holdings, Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, AvidXchange Holdings, Inc. is presently being traded at a Forward P/E ratio of 55.33. This signifies a premium in comparison to the average Forward P/E of 29.77 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.