AvidXchange (NASDAQ:AVDX) Price Target Lowered to $25.00 at Piper Sandler

AvidXchange (NASDAQ:AVDX) had its price target trimmed by Piper Sandler from $28.00 to $25.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also issued reports on AVDX. KeyCorp began coverage on AvidXchange in a research report on Monday, November 8th. They set an overweight rating and a $30.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on AvidXchange in a research report on Monday, November 8th. They set an overweight rating and a $28.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on AvidXchange in a research report on Monday, November 8th. They issued a buy rating and a $30.00 target price on the stock. Wolfe Research assumed coverage on AvidXchange in a research report on Monday, November 8th. They issued an outperform rating and a $31.00 target price on the stock. Finally, The Goldman Sachs Group dropped their target price on AvidXchange from $35.00 to $28.00 and set a buy rating on the stock in a research report on Monday, December 13th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, AvidXchange has a consensus rating of Buy and a consensus target price of 28.63.

Shares of AVDX opened at 11.43 on Wednesday. The firm has a 50 day simple moving average of 18.70. AvidXchange has a 52-week low of 11.26 and a 52-week high of 27.43.

AvidXchange (NASDAQ:AVDX) last posted its quarterly earnings results on Tuesday, November 16th. The company reported -0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of -0.15 by -0.23. The company had revenue of 65.18 million during the quarter, compared to analyst estimates of 61.65 million. Equities research analysts anticipate that AvidXchange will post -0.39 earnings per share for the current year.

AvidXchange Company Profile

AvidXchange Holdings Inc is a provider of accounts payable automation software and payment solutions for middle market businesses and suppliers. The company’s software-as-a-service-based, end-to-end software and payment platform digitizes and automates the AP workflows for businesses and supplier. AvidXchange Holdings Inc is based in CHARLOTTE, N.C.

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Analyst Recommendations for AvidXchange (NASDAQ:AVDX)

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