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AvidXchange Holdings, Inc. (AVDX) Stock Moves -0.24%: What You Should Know
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The most recent trading session ended with AvidXchange Holdings, Inc. (AVDX - Free Report) standing at $12.61, reflecting a -0.24% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 1.39%. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq depreciated by 2.77%.
The the stock of company has risen by 15.12% in the past month, leading the Computer and Technology sector's gain of 1.25% and the S&P 500's gain of 4.43%.
Market participants will be closely following the financial results of AvidXchange Holdings, Inc. in its upcoming release. The company plans to announce its earnings on July 31, 2024. Our most recent consensus estimate is calling for quarterly revenue of $106.32 million, up 16.64% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.22 per share and a revenue of $445.05 million, signifying shifts of +214.29% and +16.9%, respectively, from the last 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AvidXchange Holdings, Inc. presently features a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that AvidXchange Holdings, Inc. has a Forward P/E ratio of 56.81 right now. This denotes a premium relative to the industry's average Forward P/E of 30.44.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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) Stock Moves -0.24%: What You Should Know
The most recent trading session ended with AvidXchange Holdings, Inc. (AVDX - Free Report) standing at $12.61, reflecting a -0.24% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 1.39%. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq depreciated by 2.77%.
The the stock of company has risen by 15.12% in the past month, leading the Computer and Technology sector's gain of 1.25% and the S&P 500's gain of 4.43%.
Market participants will be closely following the financial results of AvidXchange Holdings, Inc. in its upcoming release. The company plans to announce its earnings on July 31, 2024. Our most recent consensus estimate is calling for quarterly revenue of $106.32 million, up 16.64% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.22 per share and a revenue of $445.05 million, signifying shifts of +214.29% and +16.9%, respectively, from the last 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AvidXchange Holdings, Inc. presently features a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that AvidXchange Holdings, Inc. has a Forward P/E ratio of 56.81 right now. This denotes a premium relative to the industry's average Forward P/E of 30.44.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.