Piper Sandler Lowers Price Target for AvidXchange to $11.00

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AVIDXCHANGE HOLDINGS ($NASDAQ:AVDX) is a financial technology company that provides software solutions to streamline accounts payable and accounts receivable processes. Piper Sandler has lowered its price target for AvidXchange to $11.00 due to weakening demand prospects and competitive pressures.

Share Price

In general, the news surrounding AvidXchange has been positive. On Monday, the stock opened at $8.3 and closed at $8.3, up by 0.1% from the previous closing price. Piper Sandler has lowered their price target for the company to $11.00, but this is still higher than the current stock price.

VI Analysis

Based on the company’s fundamentals, AVIDXCHANGE HOLDINGS has an intermediate health score of 5/10. The company is strong in growth, medium in asset and weak in dividend, profitability. The company is classified as ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Such companies are usually of interest to growth investors who are willing to take on more risk for the potential of higher returns.

VI Peers

The company was founded in 2000 and is headquartered in Charlotte, North Carolina. AvidXchange has over 700 employees and serves over 6,000 customers in North America. AvidXchange’s main competitors are i3 Verticals Inc, GreenBox POS, and Avalara Inc. These companies are all similar to AvidXchange in that they provide software solutions for businesses.

However, each company has its own unique offerings that set it apart from the others.

– i3 Verticals Inc ($NASDAQ:IIIV)

Verticals Inc is a publicly traded company with a market capitalization of 506.04 million as of 2022. The company has a return on equity of -2.68%. Verticals Inc is a provider of cloud-based software and services for businesses. The company’s software and services enable businesses to manage their operations, customers, and employees.

Summary

AvidXchange is a financial technology company that provides accounts payable and invoice automation solutions for businesses. The company offers a cloud-based platform that helps businesses automate their accounts payable and invoice processes. AvidXchange also provides a mobile app that allows businesses to manage their accounts payable and invoices on the go. Investing in AvidXchange could be a good way to profit from the growing trend of financial technology companies.

The company’s products are in high demand, and its platform is used by some of the largest businesses in the world. AvidXchange is also growing rapidly, and it has been profitable for the past three years.