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For the fourth quarter, the Zacks Consensus Estimate for revenues is pegged at $98.64 million, suggesting an increase of 14.45% from the figure reported in the year-ago quarter.
The consensus mark for earnings per share is pegged at breakeven, which has remained unchanged in the past 30 days.
AvidXchange’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 95.56%.
Let’s see how things have shaped up for this announcement.
Factors to Note
AvidXchange’s fourth-quarter performance is likely to have benefited from its expanding portfolio. The company's focus on delivering accounts payable and payment automation software solutions to middle-market buyers is expected to have contributed to its financial performance in the to-be-reported quarter.
Growing clientele on the back of new products, such as construction lean waiver management software and 3-way purchase order match functionality, is likely to have boosted top-line growth during the quarter under review.
Increasing focus on its business flywheel, which includes delivering great AP automation software (Gear 1), forging new sales partnerships, deep integrations with accounting systems (Gears 2 and 3), and the launch of Invoice Accelerator 2.0 (Gear 4), a digital invoice financing offering designed for small business suppliers, are expected to have aided fourth-quarter performance.
AvidXchange's expanding portfolio, such as Invoice Accelerator 2.0, a digital invoice financing offering designed to accelerate the cash conversion cycle for small business suppliers, is expected to have been a key growth driver for the company.
However, challenging macroeconomic conditions are expected to have hurt AVDX’s performance in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
AvidXchange has an Earnings ESP of 0.00% and a Zacks Rank #3 currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Image: Bigstock
AvidXchange (AVDX) to Report Q4 Earnings: What to Expect
AvidXchange (AVDX - Free Report) is slated to release its fourth-quarter 2023 results on Feb 28.
For the fourth quarter, the Zacks Consensus Estimate for revenues is pegged at $98.64 million, suggesting an increase of 14.45% from the figure reported in the year-ago quarter.
The consensus mark for earnings per share is pegged at breakeven, which has remained unchanged in the past 30 days.
AvidXchange’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 95.56%.
AvidXchange Holdings, Inc. Price and EPS Surprise
AvidXchange Holdings, Inc. price-eps-surprise | AvidXchange Holdings, Inc. Quote
Let’s see how things have shaped up for this announcement.
Factors to Note
AvidXchange’s fourth-quarter performance is likely to have benefited from its expanding portfolio. The company's focus on delivering accounts payable and payment automation software solutions to middle-market buyers is expected to have contributed to its financial performance in the to-be-reported quarter.
Growing clientele on the back of new products, such as construction lean waiver management software and 3-way purchase order match functionality, is likely to have boosted top-line growth during the quarter under review.
Increasing focus on its business flywheel, which includes delivering great AP automation software (Gear 1), forging new sales partnerships, deep integrations with accounting systems (Gears 2 and 3), and the launch of Invoice Accelerator 2.0 (Gear 4), a digital invoice financing offering designed for small business suppliers, are expected to have aided fourth-quarter performance.
AvidXchange's expanding portfolio, such as Invoice Accelerator 2.0, a digital invoice financing offering designed to accelerate the cash conversion cycle for small business suppliers, is expected to have been a key growth driver for the company.
However, challenging macroeconomic conditions are expected to have hurt AVDX’s performance in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
AvidXchange has an Earnings ESP of 0.00% and a Zacks Rank #3 currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
The Gap (GPS - Free Report) has an Earnings ESP of +24.44% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Gap’s shares have declined 8.7% year to date. GPS is set to report its fourth-quarter 2023 results on Mar 7.
SEMrush (SEMR - Free Report) has an Earnings ESP of +23.08% and a Zacks Rank of 2 at present.
SEMrush’s shares have declined 10.5% year to date. SEMR is set to report its fourth-quarter 2023 results on Mar 4.
SentinelOne (S - Free Report) has an Earnings ESP of +16.3% and a Zacks Rank #3.
SentinelOne’s shares have declined 4% year to date. S is set to report its fourth-quarter fiscal 2024 results on Mar 13.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.