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

AvidXchange (NASDAQ:AVDX) had its price objective lowered by Piper Sandler from $28.00 to $25.00 in a research report report published on Wednesday morning, Stock Target Advisor reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on AVDX. Barclays started coverage on shares of AvidXchange in a report on Monday, November 8th. They issued an overweight rating and a $29.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of AvidXchange in a research note on Monday, November 8th. They set a buy rating and a $30.00 target price for the company. Wolfe Research started coverage on shares of AvidXchange in a research note on Monday, November 8th. They set an outperform rating and a $31.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of AvidXchange in a research note on Monday, November 8th. They set an overweight rating and a $28.00 target price for the company. Finally, The Goldman Sachs Group reduced their price target on shares of AvidXchange from $35.00 to $28.00 and set a buy rating on the stock in a research report on Monday, December 13th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of Buy and an average target price of 28.63.

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

AvidXchange (NASDAQ:AVDX) last announced its quarterly earnings data on Tuesday, November 16th. The company reported -0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of -0.15 by -0.23. The company had revenue of 65.18 million for the quarter, compared to analysts’ expectations of 61.65 million. Sell-side analysts anticipate that AvidXchange will post -0.39 EPS for the current fiscal 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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