Wells Fargo analyst Andrew Bauch raised the firm’s price target on AvidXchange to $13 from $12 and keeps an Equal Weight rating on the shares. The firm notes the company delivered a strong Q4, an impressive incremental margin guide, and a revenue growth guide with likely conservative elements. That said, Wells thinks shares are fairly valued.
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Read More on AVDX:
- AvidXchange Announces Fourth Quarter 2023 Financial Results
- AvidXchange price target raised to $12 from $10 at Wells Fargo
- AvidXchange Announces Timing of Its Fourth Quarter 2023 Financial Results Conference Call and Webcast
- Piper Sandler downgrades AvidXchange to Neutral on valuation, falling rates
- AvidXchange downgraded to Neutral from Overweight at Piper Sandler
