Q2’24 financial results mark a milestone in achieving GAAP net income profitability on disciplined execution around year-over-year revenue growth, unit cost efficiencies and operating expense leverage Sustaining a strong balance sheet with cash and marketable securities of $465.0 million to re-invest in the core business organically and inorganically Updated 2024 business outlook reflects strong execution amid macro choppiness CHARLOTTE, N.C., July 31, 2024 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (Na ...

The most recent trading session ended with AvidXchange Holdings, Inc. (AVDX) standing at $12.43, reflecting a -1.97% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.11%. At the same time, the Dow added 1.64%, and the tech-heavy Nasdaq gained 1.03%.Shares of the company witnessed a gain of 6.82% over the previous month, beating the performance of the Computer and Technology sector with its loss of 5.32% and the S&P 500's loss of 1.16%.Market p ...

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 ...

Core Insights - AvidXchange Holdings, Inc. will release its second quarter 2024 financial results on July 31, 2024, and will host a conference call to discuss these results [1] - The conference call will be available via live webcast and a recorded replay will be accessible afterward [1] Company Overview - AvidXchange is a leading provider of accounts payable (AP) automation software and payment solutions specifically targeting middle market businesses and their suppliers [2] - The company's software-as-a-service platform automates AP workflows for over 8,000 businesses and has facilitated payments to more than 1,200,000 suppliers in the last five years [2]

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 ...