The downgrade to Neutral suggests that Piper Sandler believes AVDX is now fairly valued and may not outperform the market, which could temper investor enthusiasm. However, the increase in the price target to $13 indicates a belief in the company's potential to grow or improve, which could counterbalance the downgrade's negative impact. The net effect on the stock price could be neutral in the short term as the market digests both pieces of information.