AvidXchange (NASDAQ:AVDX) Posts Earnings Results, Misses Expectations By $0.03 EPS

AvidXchange (NASDAQ:AVDX) released its quarterly earnings results on Wednesday. The company reported $0.03 EPS 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%. AvidXchange updated its FY 2025 guidance to 0.250-0.270 EPS.

AvidXchange Price Performance

AVDX stock traded down $1.52 during trading on Wednesday, hitting $7.64. The stock had a trading volume of 3,499,603 shares, compared to its average volume of 1,460,565. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 461.00 and a beta of 1.22. AvidXchange has a 1-year low of $6.96 and a 1-year high of $13.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.32. The company’s 50 day moving average price is $10.23 and its two-hundred day moving average price is $9.44.

Insider Activity at AvidXchange

In related news, Director James E. Hausman sold 25,000 shares of AvidXchange stock in a transaction on Monday, December 9th. The shares were sold at an average price of $11.25, for a total transaction of $281,250.00. Following the sale, the director now owns 2,112,232 shares of the company’s stock, valued at $23,762,610. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Teresa Mackintosh sold 13,316 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $11.44, for a total transaction of $152,335.04. Following the transaction, the director now directly owns 47,388 shares in the company, 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 ninety days, insiders sold 80,693 shares of company stock worth $916,683. 10.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVDX. Wells Fargo & Company raised their price objective on shares of AvidXchange from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods dropped their price objective on AvidXchange from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. BTIG Research began coverage on AvidXchange in a research report on Wednesday, December 11th. They set a “buy” rating and a $14.00 price target on the stock. UBS Group lifted their price objective on AvidXchange from $10.00 to $10.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Compass Point upgraded shares of AvidXchange from a “neutral” rating to a “buy” rating and increased their price objective for the company from $8.00 to $15.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.61.

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.