During the recent session, AvidXchange Holdings Inc. (NASDAQ:AVDX)’s traded shares were 0.94 million. At the last check today, the stock’s price was $7.94, reflecting an intraday gain of 0.76% or $0.06. The 52-week high for the AVDX share is $27.43, that puts it down -245.47 from that peak though still a striking 26.2% gain since the share price plummeted to a 52-week low of $5.86. The company’s market capitalization is $1.50B, and the average intraday trading volume over the past 10 days was 1.63 million shares, and the average trade volume was 2.35 million shares over the past three months.
AvidXchange Holdings Inc. (AVDX) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.10. AVDX has a Sell rating from 0 analyst(s) out of 12 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 7 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.13.
AvidXchange Holdings Inc. (NASDAQ:AVDX) trade information
AvidXchange Holdings Inc. (AVDX) registered a 0.76% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.76% in intraday trading to $7.94 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 13.54%, and it has moved by 14.53% in 30 days. The short interest in AvidXchange Holdings Inc. (NASDAQ:AVDX) is 8.05 million shares and it means that shorts have 2.64 day(s) to cover.
The consensus price target of analysts on Wall Street is $10.71, which implies an increase of 25.86% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $8.00 and $13.00 respectively. As a result, AVDX is trading at a discount of -63.73% off the target high and -0.76% off the low.
AvidXchange Holdings Inc. (AVDX) estimates and forecasts
Statistics show that AvidXchange Holdings Inc. has outperformed its competitors in share price, compared to the industry in which it operates. AvidXchange Holdings Inc. (AVDX) shares have gone down -30.08% during the last six months, with a year-to-date growth rate more than the industry average at 58.65% against 3.20. In the rating firms’ projections, revenue will increase 23.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $72.44 million as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $78.63 million by the end of Sep 2022.
While earnings are projected to return -210.30% in 2022, the next five years will return -14.07% per annum.
AvidXchange Holdings Inc. is due to release its next quarterly earnings on November 16. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
AvidXchange Holdings Inc. (NASDAQ:AVDX)’s Major holders
AvidXchange Holdings Inc. insiders own 9.93% of total outstanding shares while institutional holders control 61.94%, with the float percentage being 68.77%. Bain Capital Venture Investors, LLC is the largest shareholder of the company, while 147 institutions own stock in it. As of Mar 30, 2022, the company held over 18.93 million shares (or 9.57% of all shares), a total value of $152.38 million in shares.
The next largest institutional holding, with 13.84 million shares, is of Capital Research Global Investors’s that is approximately 7.00% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $111.4 million.
Also, the Mutual Funds coming in first place with the largest holdings of AvidXchange Holdings Inc. (AVDX) shares are Smallcap World Fund and iShares Russell 2000 ETF. Data provided on Mar 30, 2022 indicates that Smallcap World Fund owns about 11.33 million shares. This amounts to just over 5.73 percent of the company’s overall shares, with a $91.22 million market value. The same data shows that the other fund manager holds slightly less at 3.34 million, or about 1.69% of the stock, which is worth about $20.53 million.