BofA analyst Brad Sills raised the firm’s price target on AvidXchange (AVDX) to $9 from $8 and keeps an Underperform rating on the shares after what the firm called “overall stable, though somewhat mixed Q3 results.” Q3 results point to stable TPV growth and monetization, but with political revenue rolling off this year, the near-term growth rate is coming down, the analyst tells investors.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVDX:
- AvidXchange price target raised to $10 from $9 at Piper Sandler
- AvidXchange Reports Strong Q3 2024 Financial Performance
- Trump Media, broader market surge after Trump wins election: Morning Buzz
- AvidXchange reports Q3 adjusted EPS 7c, consensus 7c
- AvidXchange sees FY24 adjusted EPS 24c-25c, consensus 25c