Barclays analyst Ramsey El Assal assigned a Buy rating to AvidXchange Holdings (AVDX – Research Report) today and set a price target of $16.00. The company’s shares closed yesterday at $11.60.
El Assal covers the Technology sector, focusing on stocks such as Fiserv, Block, and Cognizant. According to TipRanks, El Assal has an average return of 1.6% and a 51.81% success rate on recommended stocks.
In addition to Barclays, AvidXchange Holdings also received a Buy from KeyBanc’s Alex Markgraff in a report issued today. However, yesterday, KBW assigned a Hold rating to AvidXchange Holdings (NASDAQ: AVDX).
The company has a one-year high of $13.56 and a one-year low of $6.88. Currently, AvidXchange Holdings has an average volume of 1.8M.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVDX in relation to earlier this year. Most recently, in March 2024, Michael Praeger, the CEO of AVDX sold 46,692.00 shares for a total of $585,984.60.
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AvidXchange Holdings (AVDX) Company Description:
AvidXchange Holdings Inc is a provider of AP automation software and payment solutions for middle-market businesses and their suppliers. It generates the majority of its sales from Payment revenue followed by Software revenue and Services revenue.
Read More on AVDX:
- Reddit, Astera Labs initiated: Wall Street’s top analyst calls
- AvidXchange downgraded to Sell from Neutral at Goldman Sachs
- AvidXchange Announces Timing of Its First Quarter 2024 Financial Results Conference Call and Webcast
- AvidXchange initiated with a Market Perform at Keefe Bruyette
- AvidXchange Revamps Board with Strategic Leadership Changes
