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AvidXchange Holdings, Inc. (AVDX) Rises As Market Takes a Dip: Key Facts
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The most recent trading session ended with AvidXchange Holdings, Inc. (AVDX - Free Report) standing at $12.68, reflecting a +1.52% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.51%. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq depreciated by 0.93%.
Heading into today, shares of the company had gained 7.12% over the past month, outpacing the Computer and Technology sector's loss of 2.41% and the S&P 500's loss of 0.26% in that time.
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. Alongside, our most recent consensus estimate is anticipating revenue of $106.32 million, indicating a 16.64% upward movement from the same quarter last year.
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.
It is also important to note the recent changes to analyst estimates for AvidXchange Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, AvidXchange Holdings, Inc. boasts a Zacks Rank of #2 (Buy).
In terms of valuation, AvidXchange Holdings, Inc. is currently trading at a Forward P/E ratio of 56.13. For comparison, its industry has an average Forward P/E of 29.68, which means AvidXchange Holdings, Inc. is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 100, placing it within the top 40% of over 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) Rises As Market Takes a Dip: Key Facts
The most recent trading session ended with AvidXchange Holdings, Inc. (AVDX - Free Report) standing at $12.68, reflecting a +1.52% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.51%. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq depreciated by 0.93%.
Heading into today, shares of the company had gained 7.12% over the past month, outpacing the Computer and Technology sector's loss of 2.41% and the S&P 500's loss of 0.26% in that time.
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. Alongside, our most recent consensus estimate is anticipating revenue of $106.32 million, indicating a 16.64% upward movement from the same quarter last year.
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.
It is also important to note the recent changes to analyst estimates for AvidXchange Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, AvidXchange Holdings, Inc. boasts a Zacks Rank of #2 (Buy).
In terms of valuation, AvidXchange Holdings, Inc. is currently trading at a Forward P/E ratio of 56.13. For comparison, its industry has an average Forward P/E of 29.68, which means AvidXchange Holdings, Inc. is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 100, placing it within the top 40% of over 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.