AvidXchange (AVDX) to Release Earnings on Thursday

AvidXchange (NASDAQ:AVDX – Get Rating) is set to issue its quarterly earnings data after the market closes on Thursday, May 5th. Analysts expect the company to announce earnings of -0.21 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

AVDX opened at 8.05 on Thursday. The company’s 50 day simple moving average is 8.49. AvidXchange has a one year low of 6.50 and a one year high of 27.43. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.25.

In related news, insider Michael Praeger purchased 69,500 shares of the business’s stock in a transaction on Thursday, March 10th. The shares were bought at an average cost of 7.11 per share, with a total value of 494,145.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AVDX has been the topic of a number of analyst reports. Zacks Investment Research cut AvidXchange from a “hold” rating to a “sell” rating in a research note on Wednesday. Piper Sandler lowered their target price on AvidXchange from $25.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, March 8th. Credit Suisse Group reduced their target price on AvidXchange from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Tuesday, March 8th. KeyCorp reduced their target price on AvidXchange from $30.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, January 25th. Finally, Robert W. Baird began coverage on AvidXchange in a research note on Tuesday, April 19th. They issued an “outperform” rating and a $16.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of 20.30.

AvidXchange Company Profile (Get Rating)

AvidXchange Holdings, Inc provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America. The company offers AP automation software, a SaaS-based solution that automates and digitizes capture, review, approval, and payment of invoices for buyers; the AvidPay network that connects two-sided payments with buyers and suppliers; and cash flow manager that provides cash management solutions.

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