UPDATE: Barclays Starts AvidXChange Holdings (AVDX) at Overweight

Barclays analyst Ramsey El-Assal initiates coverage on AvidXChange Holdings (NASDAQ: AVDX) with a Overweight rating and a price target of $29.00.

The analyst comments "We are positive on AVDX's market opportunity as a leading provider of accounts payable automation/payment solutions to the middle market. The company has a large greenfield opportunity, attractive growth vectors, and embedded levers for margin expansion. Initiate OW with a $29 PT based on 28x our F23 GP + DCF."

For an analyst ratings summary and ratings history on AvidXChange Holdings click here. For more ratings news on AvidXChange Holdings click here.

Shares of AvidXChange Holdings closed at $23.81 yesterday.

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