Avidxchange Holdings Inc reports results for the quarter ended in June - Earnings Summary

AvidXchange Holdings

31/07/2024 14:32

* Avidxchange Holdings Inc  AVDX.OQ  reported quarterly
adjusted
earnings of 5 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported breakeven earnings per share.  The mean expectation of
fourteen analysts for the quarter was for earnings of 4 cents
per share. Wall Street expected results to range from 3 cents
to 7 cents per share.
    * Revenue rose 15.3% to $105.13 million from a year ago;
analysts
expected $106.91 million. 
    * Avidxchange Holdings Inc's reported EPS for the quarter
was
breakeven results​.
    * The company reported quarterly net income of $436
thousand.
    * Avidxchange Holdings Inc shares had risen by 5.5% this
quarter and gained 2.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 3.4%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 5
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the business
support
services peer group is also "buy"

Wall Street's median 12-month price target for Avidxchange
Holdings Inc is $13.50 
This summary was machine generated from LSEG data July 31 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.04           0.05           Beat
 Mar. 31 2024      0.03           0.05           Beat
 Dec. 31 2023      0.01           0.05           Beat
 Sep. 30 2023      -0.02          0.03           Beat