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AvidXchange Holdings, Inc. (AVDX) Outpaces Stock Market Gains: What You Should Know
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AvidXchange Holdings, Inc. (AVDX - Free Report) closed the latest trading day at $7.94, indicating a +0.76% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.01%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.08%.
Heading into today, shares of the company had lost 1.62% over the past month, lagging the Computer and Technology sector's gain of 1.03% and the S&P 500's gain of 1.21% in that time.
The upcoming earnings release of AvidXchange Holdings, Inc. will be of great interest to investors. On that day, AvidXchange Holdings, Inc. is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 133.33%. Meanwhile, our latest consensus estimate is calling for revenue of $110.89 million, up 12.37% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.24 per share and revenue of $438.08 million. These totals would mark changes of +242.86% and +15.07%, respectively, from 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, AvidXchange Holdings, Inc. boasts a Zacks Rank of #3 (Hold).
With respect to valuation, AvidXchange Holdings, Inc. is currently being traded at a Forward P/E ratio of 32.83. This represents a premium compared to its industry's average Forward P/E of 30.46.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 29% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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AvidXchange Holdings, Inc. (AVDX) Outpaces Stock Market Gains: What You Should Know
AvidXchange Holdings, Inc. (AVDX - Free Report) closed the latest trading day at $7.94, indicating a +0.76% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.01%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.08%.
Heading into today, shares of the company had lost 1.62% over the past month, lagging the Computer and Technology sector's gain of 1.03% and the S&P 500's gain of 1.21% in that time.
The upcoming earnings release of AvidXchange Holdings, Inc. will be of great interest to investors. On that day, AvidXchange Holdings, Inc. is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 133.33%. Meanwhile, our latest consensus estimate is calling for revenue of $110.89 million, up 12.37% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.24 per share and revenue of $438.08 million. These totals would mark changes of +242.86% and +15.07%, respectively, from 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, AvidXchange Holdings, Inc. boasts a Zacks Rank of #3 (Hold).
With respect to valuation, AvidXchange Holdings, Inc. is currently being traded at a Forward P/E ratio of 32.83. This represents a premium compared to its industry's average Forward P/E of 30.46.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 29% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.