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AvidXchange Holdings, Inc. (AVDX) Laps the Stock Market: Here's Why
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AvidXchange Holdings, Inc. (AVDX - Free Report) closed the most recent trading day at $8.91, moving +1.02% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.81%. At the same time, the Dow added 0.39%, and the tech-heavy Nasdaq gained 1.35%.
The company's shares have seen a decrease of 16.87% over the last month, not keeping up with the Computer and Technology sector's loss of 6.4% and the S&P 500's loss of 6.19%.
The investment community will be closely monitoring the performance of AvidXchange Holdings, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.05, indicating a 16.67% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $94.49 million, reflecting a 14.66% rise from the equivalent quarter last year.
AVDX's full-year Zacks Consensus Estimates are calling for earnings of -$0.12 per share and revenue of $369.43 million. These results would represent year-over-year changes of +50% and +16.78%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for AvidXchange Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. AvidXchange Holdings, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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) Laps the Stock Market: Here's Why
AvidXchange Holdings, Inc. (AVDX - Free Report) closed the most recent trading day at $8.91, moving +1.02% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.81%. At the same time, the Dow added 0.39%, and the tech-heavy Nasdaq gained 1.35%.
The company's shares have seen a decrease of 16.87% over the last month, not keeping up with the Computer and Technology sector's loss of 6.4% and the S&P 500's loss of 6.19%.
The investment community will be closely monitoring the performance of AvidXchange Holdings, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.05, indicating a 16.67% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $94.49 million, reflecting a 14.66% rise from the equivalent quarter last year.
AVDX's full-year Zacks Consensus Estimates are calling for earnings of -$0.12 per share and revenue of $369.43 million. These results would represent year-over-year changes of +50% and +16.78%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for AvidXchange Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. AvidXchange Holdings, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.