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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 $7.75, with a +1.17% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.97%. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.45%.
Heading into today, shares of the company had lost 4.61% over the past month, lagging the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 5.41% in that time.
Market participants will be closely following the financial results of AvidXchange Holdings, Inc. in its upcoming release. It is anticipated that the company will report an EPS of $0.07, marking a 133.33% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $110.89 million, indicating a 12.37% upward movement from the same quarter last year.
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. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. AvidXchange Holdings, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that AvidXchange Holdings, Inc. has a Forward P/E ratio of 31.92 right now. This expresses a premium compared to the average Forward P/E of 31.75 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Exceeds Market Returns: Some Facts to Consider
In the latest market close, AvidXchange Holdings, Inc. (AVDX - Free Report) reached $7.75, with a +1.17% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.97%. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.45%.
Heading into today, shares of the company had lost 4.61% over the past month, lagging the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 5.41% in that time.
Market participants will be closely following the financial results of AvidXchange Holdings, Inc. in its upcoming release. It is anticipated that the company will report an EPS of $0.07, marking a 133.33% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $110.89 million, indicating a 12.37% upward movement from the same quarter last year.
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. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. AvidXchange Holdings, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that AvidXchange Holdings, Inc. has a Forward P/E ratio of 31.92 right now. This expresses a premium compared to the average Forward P/E of 31.75 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.