Bullish Case: Analysts’ upgraded price targets, consistent mean reversion, and upcoming Wolfe FinTech exposure suggest upside momentum for AVDX.


Bearish Case: Insiders selling, low trading volume, and recent negative price action imply potential downside for AVDX.


Potential Outcomes: Earnings beat (30%): Prices rise. Earnings miss (25%): Prices fall. Stagnation (45%): Little movement. These are grounded in AVDX's performance history.


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April 11, 2024


AvidXchange Forecast

AVDX        AvidXchange
Price Forecast: BEARISH    Price Action: RANDOM (?)






Correlated Stock Forecasts

Assets that tend to move strongly with AVDX



ARKK Forecast + Options Trading Strategies   [ARKK]  ARK Innovation (0.94)


ENTG Forecast + Options Trading Strategies   [ENTG]  Entegris (0.93)


IPO Forecast + Options Trading Strategies   [IPO]  Renaissance IPO (0.93)


QRVO Forecast + Options Trading Strategies   [QRVO]  Qorvo (0.93)


ARKF Forecast + Options Trading Strategies   [ARKF]  ARK Fintech Innovation (0.93)



Uncorrelated Stock Forecasts

Assets with little price relationship to AVDX



SO Forecast + Options Trading Strategies   [SO]  Southern (0.0)


MRO Forecast + Options Trading Strategies   [MRO]  Marathon Oil (-0.0)


CNP Forecast + Options Trading Strategies   [CNP]  Centerpoint Energy (0.0)


XLU Forecast + Options Trading Strategies   [XLU]  Utilities Select Sector SPDR (0.0)


LNG Forecast + Options Trading Strategies   [LNG]  Cheniere Energy (-0.0)



Anticorrelated Stock Forecasts

Assets that tend to move strongly against AVDX



SDOW Forecast + Options Trading Strategies   [SDOW]  ProShares UltraPro Short Dow30 (-0.87)


HDGE Forecast + Options Trading Strategies   [HDGE]  Advisorshares Trust - Ranger Equity Bear (-0.89)


SPXS Forecast + Options Trading Strategies   [SPXS]  Direxion Daily S&P 500 Bear 3X Shares (-0.9)


SRTY Forecast + Options Trading Strategies   [SRTY]  ProShares UltraPro Short Russell2000 (-0.94)


TZA Forecast + Options Trading Strategies   [TZA]  Direxion Daily Small Cap Bear 3X Shares (-0.94)





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