AvidXchange Holdings Inc (NASDAQ:AVDX) finished Friday with an addition of $0.05 to close at $9.48, an upside of 0.53 percent. An average of 1,595,760 shares of common stock have been traded in the last five days. There was a gain of $0.36 in the past week, and it reached a new high 23 times over the past 12 months. The last 20 days have seen an average of 1,573,870 shares traded, while the 50-day average volume stands at 1,972,652.
AVDX stock has decreased by -7.42% in the last month. The company shares reached their 1-month lowest point of $8.91 on 09/21/23. With the stock rallying to its 52-week high on 08/02/23, shares of the company touched a low of $7.02 and a high of $12.75 in 52 weeks. It has reached a new high 14 times so far this year and lost -4.63% or -$0.46 in price. In spite of this, the price is down -25.65% from the 52-week high.
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Insider Transactions
AVDX stock investors should be aware that AvidXchange Holdings Inc (AVDX) stock had its last reported insider trading activity 44 days ago on Aug 17. In this transaction, the insider spent $598,193. Chief Executive Officer, Praeger Michael, disposed of 25,789 shares at a price of $10.09 on Aug 15. The insider now owns more than $260,211 worth of shares. Prior to that, Wilhite Joel went on to Sale 12,880 shares at $10.09 each on Aug 15. An amount of $129,959 was transacted.
Valuation Metrics
AvidXchange Holdings Inc (AVDX) stock’s beta is 0.64. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.53, the price-to-book (PB) ratio at 2.97.
Financial Health
The quick ratio of AvidXchange Holdings Inc for the three months ended June 29 was 1.32, and the current ratio was 1.32, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.22 and a total debt to equity ratio of 0.23 for the quarter ending June 29. Its gross profit as reported stood at $198.49 million compared to revenue of $316.35 million.
Earnings Surprise
For the three-month period that ended June 29, AvidXchange Holdings Inc had $75.24 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$18.77 million in the quarter, while revenues of -$15.99 million were shrunk -37.13%. The analyst consensus anticipated AvidXchange Holdings Inc’s latest quarter earnings to come in at -$0.04 per share, but it turned out to be $0, a 100.00% surprise. For the quarter, EBITDA amounted to -$12.98 million. Shareholders own equity worth $202.15 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at AvidXchange Holdings Inc (AVDX) price momentum. RSI 9-day as of the close on 29 September was 47.99%, suggesting the stock is Neutral, with historical volatility in this time frame at 28.26%.
As of today, AVDX’s price is $9.25 +3.95% or $0.36 from its 5-day moving average. AVDX is currently trading -7.78% lower than its 20-day SMA and +16.75% higher than its 100-day SMA. However, the stock’s current price level is -21.20% below the SMA50 and +3.16% above the SMA200.
The stochastic %K and %D were 36.50% and 23.76%, respectively, and the average true range (ATR) was 0.36. With the 14-day stochastic at 47.08% and the average true range at 0.36, the RSI (14) stands at 43.48%. The stock has reached 0.13 on the 9-day MACD Oscillator while the 14-day reading was at -0.05.
Analyst Ratings
Susquehanna launched coverage on AvidXchange Holdings Inc (NASDAQ: AVDX) in its analyst report released on July 18, 2023. The firm assigned the stock a Positive rating. The consensus rating for AvidXchange Holdings Inc (AVDX) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell AVDX, while 2 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 6 others rate it as a “buy”.
What is AVDX’s price target for the next 12 months?
Analysts predict a range of price targets between $11.00 and $15.00, with a median target of $14.00. Taking a look at these predictions, the average price target given by analysts for AvidXchange Holdings Inc (AVDX) stock is $13.64.
