Core Viewpoint - AvidXchange Holdings, Inc. (AVDX) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Outlook - The Zacks Consensus Estimate for AvidXchange for the fiscal year ending December 2024 is projected at $0.22 per share, reflecting a substantial increase of 214.3% compared to the previous year [5]. - Over the past three months, the Zacks Consensus Estimate for AvidXchange has risen by 142.9%, indicating a strong upward trend in earnings estimates [5]. Impact of Earnings Estimates - Changes in a company's earnings potential, as indicated by earnings estimate revisions, are closely correlated with short-term stock price movements, particularly due to the actions of institutional investors [3]. - The Zacks rating system effectively captures the influence of earnings estimate revisions, which can lead to significant stock price movements as institutional investors adjust their valuations based on these estimates [4]. Zacks Rating System - The Zacks Rank stock-rating system categorizes stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [4]. - AvidXchange's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for price appreciation in the near term [7].

In the latest market close, AvidXchange Holdings, Inc. (AVDX) reached $12.42, with a +0.89% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.28%. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw an increase of 0.4%.The the stock of company has risen by 13.67% in the past month, leading the Computer and Technology sector's gain of 4.22% and the S&P 500's gain of 3.78%.The upcoming earnings release of AvidXchange Holdings, Inc. will ...

CHARLOTTE, N.C., July 08, 2024 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced that its second quarter 2024 ended June 30, 2024, financial results will be released on Wednesday, July 31, 2024. AvidXchange will host a conference call at 10:00 AM ET on July 31, 2024, to discuss the company’s financial results. The call will be broadcast live via ...

Core Insights - AvidXchange Holdings, Inc. is set to release its second quarter 2024 financial results on July 31, 2024, with a conference call scheduled for 10:00 AM ET on the same day [1] - The company provides accounts payable automation software and payment solutions specifically for middle market businesses and their suppliers [2] Company Overview - AvidXchange is a leading provider of accounts payable automation software and payment solutions for middle market businesses and their suppliers [2] - The company's software-as-a-service platform digitizes and automates AP workflows for over 8,000 businesses [2] - AvidXchange has facilitated payments to more than 1,200,000 supplier customers over the past five years [2]

Group 1 - AvidXchange Holdings, Inc. (AVDX) closed at $10.83, showing a slight increase of +0.09% from the previous session, outperforming the S&P 500 which declined by 0.04% [1] - Over the past month, AvidXchange shares have decreased by 4.08%, underperforming the Computer and Technology sector's loss of 2.27% and the S&P 500's gain of 4.15% [1] - The upcoming earnings report is anticipated to show quarterly revenue of $106.32 million, reflecting a year-over-year increase of 16.64% [1] Group 2 - The Zacks Consensus Estimates project full-year earnings of $0.22 per share and revenue of $445.05 million, indicating increases of +214.29% and +16.9% respectively from the previous year [1] - Recent changes to analyst estimates for AvidXchange Holdings indicate a stable outlook, with the Zacks Consensus EPS estimate remaining unchanged over the last 30 days [2] - AvidXchange currently holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook based on analyst estimates [2] Group 3 - AvidXchange is trading at a Forward P/E ratio of 48.63, which is higher than the industry average Forward P/E of 30.07 [3] - The Internet - Software industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 77, placing it in the top 31% of over 250 industries [3] - The Zacks Industry Rank is based on the average Zacks Rank of individual stocks, with top-rated industries historically outperforming lower-rated ones by a factor of 2 to 1 [3]

Company Overview - AvidXchange Holdings, Inc. is a leading provider of accounts payable (AP) automation software and payment solutions specifically designed for middle market businesses and their suppliers [3] - The company offers a software-as-a-service-based, end-to-end platform that digitizes and automates AP workflows for over 8,000 businesses [3] - AvidXchange has facilitated payments to more than 1,200,000 supplier customers over the past five years [3] Upcoming Investor Conferences - AvidXchange management will participate in the Baird 2024 Global Consumer, Technology & Services Conference on June 6, 2024, starting at 12:15 PM ET [1] - The company will also present at the Morgan Stanley US Financials, Payments & CRE Conference on June 10, 2024, beginning at 10:15 AM ET [1] - Additionally, AvidXchange will take part in the BMO Virtual Software Conference on June 11, 2024, scheduled to start at 10:00 AM ET [1] Webcast Information - A live webcast of the Morgan Stanley conference presentation will be available on AvidXchange's investor relations website [2] - Replays of the webcasts for both the Morgan Stanley and BMO conferences will be accessible for a limited time [2]

CHARLOTTE, N.C., May 23, 2024 (GLOBE NEWSWIRE) -- AvidXchange (NASDAQ:AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, announced a strategic partnership with MIP Fund Accounting by Community Brands ("MIP") in combination with a new invoice-to-pay application programming interface (API) integration. This partnership grants MIP – a leading cloud-based, SaaS fund accounting solution purpose-built for nonprofits and go ...

CHARLOTTE, N.C., May 23, 2024 (GLOBE NEWSWIRE) -- AvidXchange (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, announced a strategic partnership with MIP Fund Accounting by Community Brands (“MIP”) in combination with a new invoice-to-pay application programming interface (API) integration. This partnership grants MIP – a leading cloud-based, SaaS fund accounting solution purpose-built for nonprofits and g ...

What an incredible breakout for the market in recent weeks. It seems like there is just no stopping us, despite the constant threat of global conflict, raging inflationary pressure, and increasingly hawkish central banks around the world. It may feel like no matter what stock you decide to invest in, it’s going to turn out alright.  A word of caution though. Eventually, earnings are going to matter, especially when the market reels in a bit.One way of finding stocks with the best earnings trends is by check ...

CHARLOTTE, N.C., May 13, 2024 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (NASDAQ:AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced that members of the management team will participate in the following investor conferences: Barclays 14th Annual Emerging Payments and FinTech Forum on Thursday, May 16, 2024. The presentation is scheduled to begin at 1:50 PM ET.J.P. Morgan 52nd Annual Global Technolo ...