In the latest trading session, AvidXchange Holdings, Inc. (AVDX) closed at $10.66, marking a -0.93% move from the previous day. This change lagged the S&P 500's daily gain of 0.53%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.25%.
The company's stock has climbed by 4.06% in the past month, exceeding the Computer and Technology sector's loss of 0.75% and the S&P 500's gain of 1.24%.
Investors will be eagerly watching for the performance of AvidXchange Holdings, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 26, 2025. The company's upcoming EPS is projected at $0.06, signifying a 20% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $114.98 million, indicating a 10.49% increase compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for AvidXchange Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, AvidXchange Holdings, Inc. possesses a Zacks Rank of #3 (Hold).
In terms of valuation, AvidXchange Holdings, Inc. is presently being traded at a Forward P/E ratio of 32.85. This signifies a premium in comparison to the average Forward P/E of 30.73 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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