<div id="readability-page-1"><p>AvidXchange Holdings, Inc. (NASDAQ:AVDX - Get Free Report)'s stock price shot up 9.6% on Thursday . The stock traded as high as $7.59 and last traded at $7.55. 1,790,643 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 1,733,836 shares. The stock had previously closed at $6.89.</p><h2>Analyst Upgrades and Downgrades</h2><p>Several brokerages recently issued reports on AVDX. Morgan Stanley cut their target price on shares of AvidXchange from $11.00 to $8.00 and set an &#34;equal weight&#34; rating for the company in a research report on Thursday, February 27th. Wells Fargo &amp; Company decreased their target price on AvidXchange from $10.00 to $8.00 and set an &#34;equal weight&#34; rating on the stock in a report on Thursday, February 27th. Robert W. Baird lowered their target price on AvidXchange from $14.00 to $12.00 and set an &#34;outperform&#34; rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets decreased their price objective on AvidXchange from $11.00 to $7.50 and set a &#34;market perform&#34; rating on the stock in a research note on Thursday, February 27th. Finally, Keefe, Bruyette &amp; Woods cut their price objective on AvidXchange from $11.00 to $8.00 and set a &#34;market perform&#34; rating for the company in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned  a buy rating to the stock. According to MarketBeat.com, AvidXchange presently has an average rating of &#34;Hold&#34; and an average price target of $10.00.</p><p><b>Check Out Our Latest Stock Report on AvidXchange</b></p><h2>AvidXchange Price Performance</h2><p>The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a fifty day simple moving average of $9.51 and a two-hundred day simple moving average of $9.37. The firm has a market cap of $1.60 billion, a PE ratio of 196.00 and a beta of 1.28. </p><p>AvidXchange (NASDAQ:AVDX - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). The business had revenue of $115.44 million during the quarter, compared to analysts' expectations of $114.98 million. AvidXchange had a negative net margin of 0.23% and a positive return on equity of 0.74%.  Equities analysts predict that  AvidXchange Holdings, Inc. will post 0.02 EPS for the current fiscal year. </p><h2>Insider Activity</h2><p>In other AvidXchange news, President Daniel Drees sold 34,782 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $7.59, for a total transaction of $263,995.38. Following the transaction, the president now owns 1,176,833 shares in the company, valued at $8,932,162.47. The trade was a 2.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joel Wilhite sold 32,203 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $7.59, for a total transaction of $244,420.77. Following the transaction, the insider now owns 843 shares in the company, valued at $6,398.37. The trade was a 97.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,866 shares of company stock worth $955,323. 10.40% of the stock is currently owned by corporate insiders. </p><h2>Institutional Inflows and Outflows</h2><p>A number of hedge funds have recently modified their holdings of AVDX. US Bancorp DE boosted its holdings in  AvidXchange by 11.6% during the 4th quarter. US Bancorp DE now owns 58,350 shares of the company's stock valued at $603,000 after acquiring an additional 6,079 shares during the period.  Jacobs Levy Equity Management Inc. purchased a new stake in shares of  AvidXchange during the third quarter valued at $25,339,000.  Entropy Technologies LP bought a new position in shares of  AvidXchange in the third quarter worth about $447,000.  State of New Jersey Common Pension Fund D increased its stake in  AvidXchange by 39.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 247,947 shares of the company's stock worth $2,011,000 after buying an additional 69,971 shares during the period.  Finally, Barclays PLC lifted its holdings in  AvidXchange by 239.8% during the 3rd quarter. Barclays PLC now owns 285,768 shares of the company's stock valued at $2,318,000 after buying an additional 201,679 shares in the last quarter. Institutional investors own  80.58% of the company's stock. </p><h2>About AvidXchange</h2> (Get Free Report)<p>AvidXchange Holdings, Inc provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America. The company offers AP automation software, a SaaS-based solution that automates and digitizes capture, review, approval, and payment of invoices for buyers; the AvidPay network that connects two-sided payments with buyers and suppliers; and the AvidXchange Supplier Hub, which provides supplier insights to cash flow, tools for in-network invoices and payments, and early payment feature.</p><h2>See Also</h2><ul><li>Five stocks we like better than AvidXchange</li><li>What is Put Option Volume?</li><li>3 Undervalued Stocks You Can Buy at a Discount Now</li><li>3 Healthcare Dividend Stocks to Buy</li><li>AMD Stock: Can the PC Refresh Cycle Spark a Rally?</li><li>There Are Different Types of Stock To Invest In</li><li>Micron Stock Spikes 7%—3 Key Catalysts Behind the Move</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in AvidXchange Right Now?</h2><p>Before you consider AvidXchange, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AvidXchange wasn't on the list.</p><p>While AvidXchange currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

AVDX

<p>AvidXchange (NASDAQ:AVDX) shares rose 9.6% to $7.55, with 1.79 million shares traded. Analysts have downgraded target prices, with Morgan Stanley and Wells Fargo setting targets at $8.00. The company reported $0.03 EPS, missing estimates, and had revenue of $115.44 million. Insider selling included President Daniel Drees and Joel Wilhite. Institutional ownership stands at 80.58%, with US Bancorp DE increasing its stake by 11.6%. AvidXchange has a market cap of $1.60 billion and an average rating of "Hold" from analysts.</p>

AvidXchange (NASDAQ:AVDX) Shares Up 9.6% - Still a Buy?