In the latest market close, AvidXchange Holdings, Inc. (AVDX) reached $9.99, with a -1.67% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq lost 0.36%.

The company's stock has climbed by 5.28% in the past month, exceeding the Computer and Technology sector's gain of 2.31% and the S&P 500's gain of 4.19%.

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. It is anticipated that the company will report an EPS of $0.06, marking a 20% rise compared to the same quarter of the previous 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 should also pay attention to any latest changes in analyst estimates for AvidXchange Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. AvidXchange Holdings, Inc. is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that AvidXchange Holdings, Inc. has a Forward P/E ratio of 31.02 right now. This denotes a premium relative to the industry's average Forward P/E of 30.99.

The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 30% echelons of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

AvidXchange Holdings, Inc. (AVDX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research