Why AvidXchange Holdings Stock Triumphed Today [Yahoo! Finance]
AvidXchange Holdings, Inc. (AVDX)
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Source: Yahoo! Finance
They traded the stock nearly 14% higher across that trading session, a level that trounced the S&P 500 index's 2.5% advance. AvidXchange's third quarter saw the fintech boost its revenue by 14% year over year; it came in at nearly $113 million. That was on the back of 9% growth in total payment volume, a crucial metric for the accounts payable specialist, to $21.5 billion. On the bottom line non-GAAP (adjusted) net income practically exploded, doubling and then some to almost $15.7 million ($0.08 per share). Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Both figures topped the average analyst estimates, which were a shade under $111 million on the top line and $0.07 per share for adjusted net income. In its earnings release, AvidXchange said it was essentially managing to keep up with still-strong demand. Co-founder and CEO Michael Praeger said, "While the macro backdrop still remains choppy, the recent inflection i
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News
- AvidXchange Holdings, Inc. (NASDAQ: AVDX) had its price target raised by analysts at Barclays PLC from $11.00 to $13.00. They now have an "overweight" rating on the stock.MarketBeat
- AvidXchange to Participate in Upcoming Investor ConferencesGlobeNewswire
- AvidXchange Holdings, Inc. (NASDAQ: AVDX) had its price target raised by analysts at BMO Capital Markets from $10.00 to $11.00. They now have a "market perform" rating on the stock.MarketBeat
- AvidXchange Holdings Third Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
- AvidXchange Holdings, Inc. (NASDAQ: AVDX) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $7.00 to $9.00. They now have a "sell" rating on the stock.MarketBeat
AVDX
Earnings
- 11/6/24 - Beat
AVDX
Sec Filings
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- AVDX's page on the SEC website