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

In the latest trading session, AvidXchange Holdings, Inc. (AVDX) closed at $10.37, marking a -0.38% move from the previous day. This change lagged the S&P 500's daily gain of 0.61%. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 1.28%.Shares of the company have depreciated by 0.48% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.24% and the S&P 500's gain of 2.08%.Market participants will be closely following the financial results of AvidXchange Holdings, Inc. in its upcoming release. The company plans to announce its earnings on February 26, 2025. The company's upcoming EPS is projected at $0.06, signifying a 20% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $114.98 million, up 10.49% from the year-ago period.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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. AvidXchange Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.In terms of valuation, AvidXchange Holdings, Inc. is currently trading at a Forward P/E ratio of 31.79. This denotes a premium relative to the industry's average Forward P/E of 29.01.The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 41, finds itself in the top 17% echelons 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.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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