AvidXchange Holdings, Inc. (AVDX) Advances But Underperforms Market: Key Facts

AvidXchange Holdings, Inc. (AVDX) closed the most recent trading day at $10.71, moving +0.47% from the previous trading session. This change lagged the S&P 500's 0.92% gain on the day. Elsewhere, the Dow saw an upswing of 0.31%, while the tech-heavy Nasdaq appreciated by 2.03%.Shares of the company have appreciated by 4.31% over the course of the past month, outperforming the Computer and Technology sector's loss of 2.99% and the S&P 500's gain of 0.81%.The investment community will be closely monitoring the performance of AvidXchange Holdings, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on February 26, 2025. The company's earnings per share (EPS) are projected to be $0.06, reflecting a 20% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $114.98 million, indicating a 10.49% increase compared to the same quarter of the previous year.Investors should also note any recent changes to analyst estimates for AvidXchange Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. AvidXchange Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.Investors should also note AvidXchange Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 32.55. This indicates a premium in contrast to its industry's Forward P/E of 31.2.The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 44, placing it within the top 18% of over 250 industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AvidXchange Holdings, Inc. (AVDX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks