AvidXchange Holdings, Inc. (AVDX) Advances While Market Declines: Some Information for Investors

The latest trading session saw AvidXchange Holdings, Inc. (AVDX) ending at $10.37, denoting a +0.29% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.36%, and the technology-centric Nasdaq decreased by 0.16%.The company's stock has dropped by 9.77% in the past month, falling short of the Computer and Technology sector's gain of 1.86% and the S&P 500's loss of 2.36%.The investment community will be paying close attention to the earnings performance of AvidXchange Holdings, Inc. in its upcoming release. The company's upcoming EPS is projected at $0.06, signifying a 20% increase compared to the same quarter of the previous 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.It's also important for investors to be aware of any recent modifications to analyst estimates for AvidXchange Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, AvidXchange Holdings, Inc. boasts a Zacks Rank of #4 (Sell).From a valuation perspective, AvidXchange Holdings, Inc. is currently exchanging hands at a Forward P/E ratio of 31.57. This expresses a premium compared to the average Forward P/E of 27.8 of its industry.The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 26, placing it within the top 11% of over 250 industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.Just Released: Zacks Top 10 Stocks for 2024Hurry – you can still get in early on our 10 top tickers for 2025. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2025. You can still be among the first to see these just-released stocks with enormous potential. See New Top 10 Stocks >>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