AvidXchange Holdings, Inc. (AVDX) closed the latest trading day at $10.83, indicating a +0.09% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.04%. Elsewhere, the Dow saw a downswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.12%.

Heading into today, shares of the company had lost 4.08% over the past month, lagging the Computer and Technology sector's loss of 2.27% and the S&P 500's gain of 4.15% in that time.

The investment community will be paying close attention to the earnings performance of AvidXchange Holdings, Inc. in its upcoming release. Our most recent consensus estimate is calling for quarterly revenue of $106.32 million, up 16.64% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $0.22 per share and a revenue of $445.05 million, demonstrating changes of +214.29% and +16.9%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for AvidXchange Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. AvidXchange Holdings, Inc. currently has a Zacks Rank of #3 (Hold).

With respect to valuation, AvidXchange Holdings, Inc. is currently being traded at a Forward P/E ratio of 48.63. This signifies a premium in comparison to the average Forward P/E of 30.07 for its industry.

The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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