AvidXchange Holdings Inc. (NASDAQ: AVDX) is -6.44% lower on its value in year-to-date trading and has touched a low of $5.86 and a high of $11.86 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The AVDX stock was last observed hovering at around $9.22 in the last trading session, with the day’s gains setting it 0.08% off its average median price target of $11.00 for the next 12 months. It is also 28.46% off the consensus price target high of $13.00 offered by 11 analysts, but current levels are -16.25% lower than the price target low of $8.00 for the same period.
Currently trading at $9.30, the stock is 12.03% and 17.69% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.68 million and changing 0.87% at the moment leaves the stock 6.13% off its SMA200. AVDX registered 6.41% gain for a year compared to 6-month loss of 11.78%. The firm has a 50-day simple moving average (SMA 50) of $3.33 and a 200-day simple moving average (SMA200) of -$28.34.
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The stock witnessed a 29.35% gain in the last 1 month and extending the period to 3 months gives it a -8.46%, and is 2.76% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.43% over the week and 4.61% over the month.
AvidXchange Holdings Inc. (AVDX) has around 1600 employees, a market worth around $1.91B and $332.00M in sales. Profit margin for the company is -27.80%. Distance from 52-week low is 58.70% and -21.59% from its 52-week high. The company has generated returns on investments over the last 12 months (-10.90%).
AvidXchange Holdings Inc. (AVDX) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for AvidXchange Holdings Inc. (AVDX) is a “Overweight”. 11 analysts offering their recommendations for the stock have an average rating of 2.20, where 2 rate it as a Hold and 2 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
AvidXchange Holdings Inc. is expected to release its quarterly report on 08/02/2023.The EPS is expected to grow by 80.60% this year
AvidXchange Holdings Inc. (AVDX) Top Institutional Holders
The shares outstanding are 199.90M, and float is at 179.01M with Short Float at 3.30%.
AvidXchange Holdings Inc. (AVDX) Insider Activity
A total of 63 insider transactions have happened at AvidXchange Holdings Inc. (AVDX) in the last six months, with sales accounting for 35 and purchases happening 28 times. The most recent transaction is an insider sale by Harris Matthew C, the company’s Director. SEC filings show that Harris Matthew C sold 1,000,000 shares of the company’s common stock on May 18 at a price of $9.15 per share for a total of $9.15 million. Following the sale, the insider now owns 14.14 million shares.
AvidXchange Holdings Inc. disclosed in a document filed with the SEC on May 15 that Praeger Michael (Chief Executive Officer) sold a total of 24,835 shares of the company’s common stock. The trade occurred on May 15 and was made at $8.82 per share for $0.22 million. Following the transaction, the insider now directly holds 9.95 million shares of the AVDX stock.
Still, SEC filings show that on May 15, Wilhite Joel () disposed off 12,409 shares at an average price of $8.82 for $0.11 million. The insider now directly holds 345,378 shares of AvidXchange Holdings Inc. (AVDX).
AvidXchange Holdings Inc. (AVDX): Who are the competitors?
The company’s main competitors (and peers) include Oracle Corporation (ORCL) that is trading 40.38% up over the past 12 months and SAP SE (SAP) that is 29.43% higher over the same period.