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Barclays Thinks AvidXchange Holdings’ Stock is Going to Recover

Barclays analyst Ramsey El Assal maintained a Buy rating on AvidXchange Holdings (AVDXResearch Report) on March 11 and set a price target of $12.00. The company’s shares closed last Friday at $7.24, close to its 52-week low of $6.88.

According to TipRanks.com, Assal is a 4-star analyst with an average return of 4.6% and a 50.6% success rate. Assal covers the Technology sector, focusing on stocks such as Automatic Data Processing, TELUS International (CDA), and Rackspace Technology.

AvidXchange Holdings has an analyst consensus of Strong Buy, with a price target consensus of $14.29, which is an 80.7% upside from current levels. In a report issued on March 8, Piper Sandler also maintained a Buy rating on the stock with a $13.00 price target.

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AvidXchange Holdings’ market cap is currently $1.42B and has a P/E ratio of -6.62.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AVDX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

AvidXchange Holdings Inc is a provider of AP automation software and payment solutions for middle-market businesses and their suppliers. It generates the majority of its sales from Payment revenue followed by Software revenue and Services revenue.

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