Cigna earnings beat by $0.04, revenue topped estimates
Michael Praeger, the Chief Executive Officer of AvidXchange Holdings , Inc. (NASDAQ:AVDX), a fintech company with a market capitalization of $1.52 billion and impressive 72% gross margins, has recently sold shares worth approximately $447,142. The transactions, disclosed in an SEC filing, involved multiple sales executed at prices ranging from $7.53 to $7.70 per share. These sales were made to cover tax withholding obligations related to the vesting of restricted stock units. Following these transactions, Praeger continues to hold a significant number of shares in the company. The stock, which has declined 42% over the past year, is currently showing oversold conditions according to InvestingPro analysis, which offers 10+ additional exclusive insights about AVDX’s valuation and growth prospects.
In other recent news, AvidXChange Holdings has released its fourth-quarter results, which mostly exceeded expectations, but its fiscal year 2025 guidance has not met analyst forecasts. This has led several analyst firms to adjust their ratings and price targets for the company. Barclays (LON:BARC) downgraded AvidXChange from Overweight to Equal Weight, reducing the price target to $8, citing macroeconomic challenges and concerns over the company’s growth trajectory. Piper Sandler also cut the price target to $8 while maintaining a Neutral rating, pointing to a challenging economic environment and below-average transaction retention rates.
Similarly, Keefe, Bruyette & Woods lowered their price target to $8, maintaining a Market Perform rating, due to the company’s retention rates falling below expectations and an uncertain economic landscape. KeyBanc Capital Markets downgraded the stock to Sector Weight, expressing concerns over the FY25 outlook and macroeconomic difficulties, despite acknowledging some positive developments in revenue monetization. Meanwhile, BTIG reduced its price target to $11 but upheld a Buy rating, emphasizing AvidXChange’s strong position in the B2B payments sector and potential for growth despite a slower revenue increase forecast for FY25. These recent developments reflect a cautious stance among analysts as they await more clarity on AvidXChange’s ability to navigate ongoing challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.