AvidXchange HoldingsNASDAQ: AVDX

AvidXchange Holdings, Inc. (AVDX) concluded the recent trading session at $11.66, signifying a +1.04% move from its prior day's close.

AvidXchange Holdings, Inc. (AVDX) reachead $10.83 at the closing of the latest trading day, reflecting a +0.09% change compared to its last close.

AvidXchange Holdings, Inc. (AVDX) closed at $10.82 in the latest trading session, marking a -0.82% move from the prior day.

CHARLOTTE, N.C., June 03, 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: Baird 2024 Global Consumer, Technology & Services Conference on Thursday, June 6, 2024.

Accounts payable automation software may not have the buzz of AI but estimates remain bullish.

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

In the closing of the recent trading day, AvidXchange Holdings, Inc. (AVDX) stood at $12.91, denoting a +1.25% change from the preceding trading day.

AvidXchange Holdings, Inc. (AVDX) closed the most recent trading day at $12.91, moving -0.15% from the previous trading session.

AvidXchange's FY 2024 EBITDA guidance was +35% better than the sell side's earlier consensus estimate. AvidXchange aims to hit the rule of 40 benchmark next year, with expectations of an improvement in its operating profitability driven by the favorable impact of scale economies. The stock is still trading at a discount to its peers which I think is unjustified, and this translates into a Buy rating for AVDX.