Seeking Clues to AvidXchange Holdings, Inc. (AVDX) Q3 Earnings? A Peek Into Wall Street Projections for Key Metrics
Wall Street analysts forecast that AvidXchange Holdings, Inc. (AVDX) will report quarterly loss of $0.05 per share in its upcoming release, pointing to a year-over-year increase of 16.7%. It is anticipated that revenues will amount to $94.49 million, exhibiting an increase of 14.7% compared to the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific AvidXchange Holdings, Inc. metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places 'Revenues- Payment' at $65.95 million. The estimate indicates a change of +16.4% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenues- Software' of $27.89 million. The estimate indicates a change of +11.4% from the prior-year quarter.
The consensus among analysts is that 'Transactions Processed' will reach 19,247.75 thousand. Compared to the present estimate, the company reported 18,020 thousand in the same quarter last year.
Analysts predict that the 'Total Payment Volume' will reach $19.38 billion. The estimate is in contrast to the year-ago figure of $18.10 billion.
View all Key Company Metrics for AvidXchange Holdings, Inc. here>>>
Over the past month, AvidXchange Holdings, Inc. shares have recorded returns of -16.9% versus the Zacks S&P 500 composite's +3.1% change. Based on its Zacks Rank #3 (Hold), AVDX will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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AvidXchange Holdings, Inc. (AVDX) : Free Stock Analysis Report
