AvidXchange Holdings, Inc. (AVDX) closed at $9.77 in the latest trading session, marking a -1.91% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.24%. Meanwhile, the Dow gained 0.16%, and the Nasdaq, a tech-heavy index, added 0.08%.

Shares of the company have depreciated by 4.32% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.76% and the S&P 500's gain of 2.37%.

Analysts and investors alike will be keeping a close eye on the performance of AvidXchange Holdings, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on February 26, 2025. The company's earnings per share (EPS) are projected to be $0.06, reflecting a 20% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $114.98 million, indicating a 10.49% growth compared to the corresponding quarter of the prior year.

Investors might also notice recent changes to analyst estimates for AvidXchange Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, AvidXchange Holdings, Inc. holds a Zacks Rank of #3 (Hold).

In terms of valuation, AvidXchange Holdings, Inc. is currently trading at a Forward P/E ratio of 30.41. This expresses a premium compared to the average Forward P/E of 29.86 of its industry.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.

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