As previously reported, Compass Point analyst Dominick Gabriele upgraded AvidXchange (AVDX) to Buy from Neutral with a price target of $15, up from $8. The firm, which is rolling out its FY26 revenue estimate of $578M, notes that as “the street high for 2026 revenue.” Net transaction retention has likely bottomed in Q3 and the firm expects reversion towards the company’s historical run-rate of 105% as CEO confidence is likely to revert higher given certainty in the U.S. presidential race and accounts payable year-over-year growth cyclically reverting higher, the analyst contends.
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Read More on AVDX:
- AvidXchange price target raised to $10.50 from $10 at UBS
- AvidXchange upgraded to Buy from Neutral at Compass Point
- AvidXchange price target raised to $9 from $8 at BofA
- AvidXchange price target raised to $10 from $9 at Piper Sandler
- AvidXchange Reports Strong Q3 2024 Financial Performance
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
