AvidXchange (NASDAQ:AVDX) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

AvidXchange (NASDAQ:AVDX) issued its quarterly earnings data on Wednesday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03), Zacks reports. AvidXchange had a positive return on equity of 0.74% and a negative net margin of 0.23%. The business had revenue of $115.44 million during the quarter, compared to analyst estimates of $114.98 million. AvidXchange updated its FY 2025 guidance to 0.250-0.270 EPS.

AvidXchange Stock Performance

AVDX traded up $0.10 during trading on Thursday, hitting $7.36. 355,042 shares of the company traded hands, compared to its average volume of 1,513,631. The firm has a market cap of $1.51 billion, a P/E ratio of 461.00 and a beta of 1.22. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.11. AvidXchange has a one year low of $6.89 and a one year high of $13.56. The stock’s fifty day moving average is $10.16 and its 200 day moving average is $9.42.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVDX. Piper Sandler raised their price objective on AvidXchange from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird decreased their target price on shares of AvidXchange from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday. KeyCorp cut shares of AvidXchange from an “overweight” rating to a “sector weight” rating in a research note on Thursday. BTIG Research began coverage on AvidXchange in a report on Wednesday, December 11th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Wells Fargo & Company increased their price objective on shares of AvidXchange from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.03.

Insiders Place Their Bets

In other AvidXchange news, Director James E. Hausman sold 25,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $11.25, for a total value of $281,250.00. Following the sale, the director now directly owns 2,112,232 shares in the company, valued at $23,762,610. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Teresa Mackintosh sold 13,316 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $11.44, for a total value of $152,335.04. Following the transaction, the director now owns 47,388 shares of the company’s stock, valued at $542,118.72. The trade was a 21.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,693 shares of company stock valued at $916,683. Company insiders own 10.40% of the company’s stock.

About AvidXchange

AvidXchange Holdings, Inc provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America. The company offers AP automation software, a SaaS-based solution that automates and digitizes capture, review, approval, and payment of invoices for buyers; the AvidPay network that connects two-sided payments with buyers and suppliers; and the AvidXchange Supplier Hub, which provides supplier insights to cash flow, tools for in-network invoices and payments, and early payment feature.